The Reasoned Review

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Perspective on Greece

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(c/o George Washington)

Barry Ritholz over at The Big Picture has an excellent post on Greece’s debt woes vs. those of the United States:

All by itself, the insolvent nation-state of California is the 8th largest economy in the world. Its the size of France. According to the CIA Factbook, Greece is number 34. That is a lot of hyperventilating about a relatively small impact to global GDP. Italy is 11, Spain is 13, Portugal is 50, and Ireland is 56.

Additionally, in the US, we have 43 of the 50 states in some form of financial distress.

Perhaps the solution to California’s woes is for Arnold (who is from Austria) to have California join the EU. Then, they might qualify for a bailout from Germany . . .

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Written by pavanvan

February 11, 2010 at 10:01 am

Posted in Economy

Tagged with , , , ,

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