After the Easter break, Greece is again staring into the economic abyss. It is caught between deciding whether to swallow the restructuring medicines as prescript by its EU peers and IMF or to default on its debt obligation thereby earning some reprieve for a more gradual recovery course. The trade-off is between acute economic shock and international standing.
In a recent article , The Economist examined the two options, using past precedents. And it seems that defaulting, as undesirable as it sounds, could bring about positive outcome if executed properly (even though it concluded, in the case of Greece, such will not be the case).
The analysis brings to mind a line in an recent episode of FlashForward- When deciding if the team should skip the protocol and move forward with an investigation, an CIA agent said:
"It is sometimes easier to ask for forgiveness than permission."
In a recent article , The Economist examined the two options, using past precedents. And it seems that defaulting, as undesirable as it sounds, could bring about positive outcome if executed properly (even though it concluded, in the case of Greece, such will not be the case).
The analysis brings to mind a line in an recent episode of FlashForward- When deciding if the team should skip the protocol and move forward with an investigation, an CIA agent said:
"It is sometimes easier to ask for forgiveness than permission."
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