As an economist who lived through the Argentine crisis nearly a decade ago, I am distressed by the trouble in the euro zone because it has many of the same ingredients that led to the Argentine debacle.
The International Monetary Fund's mistaken prescriptions (yet again) and the European Central Bank’s intransigence leave Greece no option but to default and exit the euro zone. A brief recap of the Argentine experience may shed some light on where Greece is inevitably headed.
By Alan Cibils
The New York Times
