02/02/15

The art of Greek dancing



The predominant German view is that Grexit would be a calamity for Greece, a minor shock for the eurozone and a non-event for the global economy. Newspaper editorials call on Chancellor Angela Merkel not to give in to blackmail. Even Sigmar Gabriel, Social Democrat chairman and economics minister, says the consequences of Grexit can be contained. He could not be more wrong. In fact, I believe that the consequences of Grexit are likely to be as damaging to the eurozone as they would be to Greece itself. Those who play down risks tend to be good at adding up numbers but not at grasping the complex dynamics of a default on such a scale. [...]  If Greece were to leave the eurozone, the prices of shares and other assets would slump across Europe. A lot of people — and not only those with direct exposure to Greece — would be caught wrongfooted. At that point, investors will wonder whether the eurozone is still a monetary union or just a loose single currency regime with wide entrance and exit doors. They will immediately question whether Portugal is safe. 

Wolfgang Münchau, Grexit is an avoidable catastrophe, Financial Times, 1 Fevereiro 2015

2 comentários:

António Geraldo Dias disse...

Os textos do Ricardo e do Miguel são dois exemplos diferentes mas que mostram como os jornalistas são a expressão simbólica material da "classe média"- os protocolos, topoi,"habitus"-reenviam não para os movimentos/factos mas para a reprodução social do consenso maioritário ,minoritário (?)e é isso que torna tão interessante - o que se vai passar no campo dos media "voyeur"uns a apostar no políticamente correto outros mais "radicais".

Ricardo Noronha disse...

Para andar bem informado sobre o que se passa no mundo é preciso ler em inglês, de preferência os mesmo jornais que lêm os corretores da City e de Wall Street, ou seja, o Financial Times, The Economist. O NY Times e o Guardian, ou o El País, também costumam cumprir.