Greece had very little to do with the ‘global’ sub-prime bubble, it was merely the following recession that exposed the fiscal irresponsibility, originally resu

Greece had very little to do with the ‘global’ sub-prime bubble, it was merely the following recession that exposed the fiscal irresponsibility, originally resulting from low interest rates due to Euro membership. When people realised that Euro membership does not imply northern European standards, Greek interest rates soared and since Greece couldn’t print money as in the good old days, there was no way to fulfil these interest rates.