Galbraith & Magnus: Greece can’t pay debts, Europe surprisingly ad hoc & dysfunctional
According to a survey released on Monday, 37 percent of American’s have credit card debt equal to or greater than their emergency savings. Erin weighs in. James Galbraith, author of ‘The End of Normal’, relates his recent trip to Greece alongside former colleague and current Finance Minister Yanis Varoufakis. George Magnus, author of ‘Uprising: Will Emerging Markets Shape or Shake the World Economy?’, tells us that trust between the Greek government and the EU has broken down, and in fact the issue goes beyond Greece to the whole southern periphery of the eurozone. And in The Big Deal, Erin and Edward Harrison discuss the inability for Greece to repay its debts make June a date when the proverbial stuff will hit the fan.