In 2001, Greece saw its application for membership into theEurozone accepted, and the country sat down to the greatest freelunch in economic history. However, the coming years of globaleconomic prosperity would lead to unrestrained spending, cheapborrowing, and a failure to implement financial reform, leaving thecountry massively exposed to a financial crisis--which dulystruck.
In Bust: Greece, the Euro, and the Sovereign Debt Crisis,Bloomberg columnist Matthew Lynn explores Greece's spectacular riseand fall from grace and the global repercussions of its financialdisaster. Page by page, he provides a thrilling account of theGreek financial crisis, drawing out its origins, how it escalated,and its implications for a fragile global economy. Along the way,Lynn looks at how the Greek contagion has spread like wildfirethroughout Europe and explores how government ineptitude as well asfinancial speculators compounded the problem.
Blending financial history, politics, and current affairs, Lynnskillfully tells the story of how one nation rode the wave ofeconomic prosperity and brought a continent, a currency, and,potentially, the global financial system to its knees. Lively,engaging, and thought provoking, Bust reminds us just howinterconnected the world really is.