Case | HBS Case Collection | April 2011 (Revised September 2011)

The Greek Crisis: Tragedy or Opportunity?

by Dante Roscini, Jonathan Schlefer and Konstantinos Dimitriou

Abstract

After its 2009-2010 fiscal crisis shook the euro, could the Greek government stabilize debt, avoid default, and stay on the euro? This case looks at the Greek social and political road to fiscal crisis; the economics of that crisis and efforts to recover from it; the danger the crisis posed to the euro; cooperation and conflict among European states, the European Central Bank, and the International Monetary Fund to try to help Greece emerge from crisis; and the role financial markets played in these events.

Keywords: Financial Crisis; Borrowing and Debt; Currency; Financial Condition; Central Banking; Financial Markets; International Finance; Policy; Conflict Management; Cooperation; Public Administration Industry; Greece;

Citation:

Roscini, Dante, Jonathan Schlefer, and Konstantinos Dimitriou. "The Greek Crisis: Tragedy or Opportunity?" Harvard Business School Case 711-088, April 2011. (Revised September 2011.)