Bust: Greece, the Euro and the Sovereign Debt Crisis

Bust: Greece, the Euro and the Sovereign Debt Crisis

by Matthew Lynn
     
 

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In 2001, Greece saw its application for membership into the Eurozone accepted, and the country sat down to the greatest free lunch in economic history. However, the coming years of global economic prosperity would lead to unrestrained spending, cheap borrowing, and a failure to implement financial reform, leaving the country massively exposed to a financial crisis&

Overview

In 2001, Greece saw its application for membership into the Eurozone accepted, and the country sat down to the greatest free lunch in economic history. However, the coming years of global economic prosperity would lead to unrestrained spending, cheap borrowing, and a failure to implement financial reform, leaving the country massively exposed to a financial crisis—which duly struck.

In Bust: Greece, the Euro, and the Sovereign Debt Crisis, Bloomberg columnist Matthew Lynn explores Greece's spectacular rise and fall from grace and the global repercussions of its financial disaster. Page by page, he provides a thrilling account of the Greek financial crisis, drawing out its origins, how it escalated, and its implications for a fragile global economy. Along the way, Lynn looks at how the Greek contagion has spread like wildfire throughout Europe and explores how government ineptitude as well as financial speculators compounded the problem.

Blending financial history, politics, and current affairs, Lynn skillfully tells the story of how one nation rode the wave of economic prosperity and brought a continent, a currency, and, potentially, the global financial system to its knees. Lively, engaging, and thought provoking, Bust reminds us just how interconnected the world really is.

Editorial Reviews

From the Publisher
“Lynn’s book is fast-paced, entertaining and perceptive about the causes of the crisis. He explains how Greece cheated its way into the eurozone in 2001 by supplying the European Union authorities with data that understated the Greek budget deficit by an average of 2.1 percentage points in every year from 1997."
—Financial Times

‘…Lynn blends financial history, politics and current affairs to tell the story of government deceit, unfettered spending, and cheap borrowing.’
—Finance & Management Faculty, October 2010.

‘The more interesting the book, the less likely you are to put it down, and I just wanted to read from beginning to end.’
—Fool.co.uk, MoneyTalk, December 2010.

‘…thrilling account of the Greek financial crisis…lively, engaging, and thought provoking…Bust, reminds us just how interconnected the world really is.’
—Hereisthecity.com, December 2010.

‘…fast-paced, entertaining and perceptive.’ (FT.com, January 2011).

Product Details

ISBN-13:
9780470976111
Publisher:
Wiley
Publication date:
02/15/2011
Series:
Bloomberg (UK) Series , #1
Pages:
288
Sales rank:
719,694
Product dimensions:
6.10(w) x 9.10(h) x 1.20(d)

Meet the Author

MATTHEW LYNN is an experienced financial writer and commentator. He is a business and economics commentator for Bloomberg Television, a columnist for Bloomberg News, as well as MoneyWeek in the UK, and a regular contributor to the Spectator magazine in London. Before that, Lynn worked for the Sunday Times in London for ten years as a business writer and columnist. As Matt Lynn, he is also the author of the Death Force series of military thrillers published by Hodder Headline.

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