Greece: How did we get here, and what lessons does Greece hold for the rest of the European periphery?

Who Lost Greece?

By Desmond Lachman

A relatively insignificant southern European country threatens the very survival of the euro in its present form.  With Greece now literally in a state of economic and political collapse, and with the country on the cusp of an official debt default and an exit from the euro, it is not too early to pose some uncomfortable questions. Who lost Greece? How did we get to a situation in which a relatively insignificant southern European country threatens the very survival of the euro in its present form? And what lessons does Greece hold for the rest of the European periphery? The American