The Greek crisis: Argentina revisited?

Fernanda Nechio

FRBSF Economic Letter, 2010, issue nov1

Abstract: Greece?s enormous fiscal deficit and high debt level culminated earlier this year in the euro zone?s first sovereign debt crisis. High yields on Greece?s debt indicate that markets have priced in the possibility of default. Compared with Argentina, which defaulted on its debt in 2001, Greece?s fiscal position is much worse. However, unlike Argentina, Greece is supported by other euro zone countries and is not vulnerable to speculative currency attacks, advantages that offer it some protection from default.

Keywords: Financial; crises; -; Greece (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.frbsf.org/publications/economics/letter/2010/el2010-33.html (text/html)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.frbsf.org/publications/economics/letter/2010/el2010-33.html [301 Moved Permanently]--> https://www.frbsf.org/publications/economics/letter/2010/el2010-33.html)
http://www.frbsf.org/publications/economics/letter/2010/el2010-33.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfel:y:2010:i:nov1:n:2010-33

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in FRBSF Economic Letter from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().