How Illinois and other states can suffer a debt crisis like Greece but why it wouldn’t lead to an economic depression similar to what Greece suffered.
In this episode you’ll learn:
- How the economies of Greece and Portugal compare to Illinois.
- Why Illinois and other U.S. states have similar constraints as Greece to combat recession.
- What is an internal devaluation and why doesn’t it work.
- What are sudden stops.
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Show Notes
State of Illinois Investor Presentation (page no longer available)
Weakest eurozone economies on long road to recovery – The Guardian
Market Reforms At Work in Italy, Spain, Portugal and Greece – European Commission
Brussels faces up to challenge of letting Greece go – Financial Times
The ESM Stability Report Program – Greece, First and Second Reviews – European Commission
Greece hopes reform deal will smooth bailout exit – Financial Times
How Portugal came back from the brink – CNBC
The Euro: How A Common Currency Threatens the Future of Europe by Joseph Stiglitz
