Quote by Douglas Wilder
Greece's European neighbors were able step in and bolster the weak foundation on which Greece's free-spending budget was based. It would be difficult for any country, or intergovernmental organization, to rescue an economy the size of the U.S. if investors were ever to lose faith in our bonds because of our enormous debt.
Summary
This quote highlights the risky situation of Greece's economy and emphasizes the inability of any country or intergovernmental organization to rescue a large economy like that of the United States in a similar crisis. The reference to Greece's free-spending budget and weak foundation signifies how they relied on assistance from their European neighbors to sustain their economy. The quote serves as a cautionary reminder that if investors were to lose trust in the US bonds due to its massive debt, it would be highly challenging for any entity to rescue such a large economy.
Topics
Faith
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