Europe's turn to confront its debt problems - An historical perspective

“Although the financial market traders would never admit it, the fate of Greek debt, or indeed the Euro, will make little long-term difference to the average British company.  There will be disruption, even moments of chaos, but people will adjust, life will go on.  That is what happened when Mexico, Argentina and Brazil defaulted in the 1980s, and 15 years later when a large slice of East Asia suffered debt-fuelled collapse in 1997. 

Almost 15 years after the Asian debt disaster, it’s Europe’s turn to confront its debt problems.  But would it be easier if markets maintained a sense of proportion and historical perspective?”

Please click here to view a copy of Anthony Hilton’s article ‘ Historical Perspective’.  Anthony Hilton is the Financial Editor of the London Evening Standard.

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