March 26, 2012
The D-Word: Can Default Save Greece? Or Is Austerity the Answer?
4:30 p.m. - 6:00 p.m.
Harvard Kennedy School
79 John F. Kennedy Street
As the Eurozone crisis smolders, one out of every five people in Greece is unemployed. Greece's Central Bank now expects the country to slip deeper into recession, despite European authorities' massive lending and budget-cutting prescriptions. Should Greece continue to follow the path of austerity, or should it opt for the path of Argentina: abandon the euro and default? To shed some light, Mark Weisbrot, co-director of the Center for Economic and Policy Research, joined Harvard Kennedy School Professors Richard Parker and Jeffrey Frankel in assessing Greece's escape routes.