Wednesday, July 08, 2015

Greece referendum result and the meaning of debt - Business Insider

Greece referendum result and the meaning of debt - Business Insider:



To pay back debt, you have to have a growing economy. That's a basic law of economics. It's how credit cards work. It's how mortgages work. And it is how sovereign/central-bank debt works. But Greece's economy was never in a position to benefit from debt, because it has been shrinking for years:

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