A New Global Financial Architecture: Lessons from the Greek Crisis

The prime minister of Greece discusses the causes, dimensions, character, and contributing factors to the current global financial turmoil and points to lessons to be learned from the crisis in his own country. The essay underscores the potential consequences of inattention to emerging threats to financial stability, and warns that no economy is too small to have huge implications for broader economic stability. The author offers concrete recommendations for a new, transparent, and global financial architecture. Copyright 2010 by Mediterranean Affairs, Inc.