Contrarian: Three terrible lessons from the Greek crisis

Three terrible lessons from the Greek crisis

Over the past few weeks, I have run out of appropriate slang words and metaphors to describe the Greek debacle.

However, I strongly believe we should care greatly about the Greek situation as it is helping to shape the macro-economic and investment debate for the next decade.  Greece is extreme manifestation of developed world failures Take pensions, which are now at the very centre of any discussion about the robustness of government finances. The fact the Troika has insisted on a fairly drastic attack on local pensions – generous to some but mostly quite small in absolute terms – is a presage of bad things to come beyond Greece.  We in the West face a slow-moving crisis centred on fundi...