Greece’s exit from the eurozone appears to be inevitable. Still, like a doomed marriage, it is better to have rules for the impending divorce so as to make separation less costly to both sides.
NEW YORK – The Greek euro tragedy is reaching its final act: it is clear that either this year or next, Greece is highly likely to default on its debt and exit the eurozone.
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Professor at Columbia University. Recipient of the Nobel Memorial Prize in Economic Sciences in 2001 & the John Bates Clark Medal in 1979. Author of "Freefall: America, Free Markets", "The Sinking of the World Economy", "Globalisation and its Discontents" & "Making Globalisation Work".
Non-Executive Chairman of Morgan Stanley Asia. Lecturer at Yale University's School of Management and Jackson Institute for Global Affairs. Author of "The Next Asia".
Mario I. Blejer is a former governor of the Central Bank of Argentina and former Director of the Center for Central Banking Studies at the Bank of England. Eduardo Levy Yeyati is Professor of Economics at Universidad Torcuato Di Tella and Senior Fellow at The Brookings Institution.
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