{"id":519477,"date":"2010-04-07T12:17:00","date_gmt":"2010-04-07T16:17:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/el-erian-greece-debt-2010-4"},"modified":"2010-04-07T12:17:00","modified_gmt":"2010-04-07T16:17:00","slug":"el-erian-explains-why-greece-is-the-starters-pistol-of-the-sovereign-debt-meltdown","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/519477","title":{"rendered":"El Erian Explains Why Greece Is The Starter&#8217;s Pistol Of The Sovereign Debt Meltdown"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4a706c7e721161607a4e208a-275-206\/mohamed-el-erian-pimco.jpg\" border=\"0\" alt=\"mohamed el-erian pimco\" width=\"275\" height=\"206\" \/><\/p>\n<p>Mohamed El-Erian of PIMCO blasted a warning in this morning&#8217;s <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/c2709314-4252-11df-9ac4-00144feabdc0.html\">Financial Times<\/a> on the continuing European sovereign debt crisis.<\/p>\n<p>Greece is still a shambles because no one is willing to lead on the EU-IMF plan, according to El-Erian.<\/p>\n<p>And he says game theory explains it all.<\/p>\n<ul>\n<li>No one wants to act first on Greece<\/li>\n<li>Acting first would make that leader and state lose more<\/li>\n<li>But if all actors abide by the same logic, no one will act<\/li>\n<li>Greece will remain mired in its crisis and the crisis will spread to banks as individuals pull out money and choose not to invest in the country<\/li>\n<li>If the euro zone continues this inaction, it will have an even harder time dealing with potential future crises, like <a href=\"http:\/\/www.businessinsider.com\/why-spain-is-no-greece-and-cant-be-bailed-out-by-the-eu-or-imf-2010-3\">Spain<\/a> and Italy<\/li>\n<\/ul>\n<h3><a href=\"http:\/\/www.businessinsider.com\/look-whos-going-to-get-slammed-when-greece-collapses-2010-2#french-banks-represent-over-25-of-claims-1\">Now Check Out What Banks, Insurers, And Sovereigns Get Crushed In A Greek Default &gt;<\/a><\/h3>\n<p><a href=\"http:\/\/www.businessinsider.com\/el-erian-greece-debt-2010-4#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/z6dRx0FinCI\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mohamed El-Erian of PIMCO blasted a warning in this morning&#8217;s Financial Times on the continuing European sovereign debt crisis. Greece is still a shambles because no one is willing to lead on the EU-IMF plan, according to El-Erian. And he says game theory explains it all. No one wants to act first on Greece Acting [&hellip;]<\/p>\n","protected":false},"author":1977,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-519477","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/519477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1977"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=519477"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/519477\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=519477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=519477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=519477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}