Slaughter & Rees Report

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July 6, 2015

The Greek Tragedy

As you read this, you have information that we Matts did not have at the time of writing: how the Greek people ended up voting on the (somewhat abstruse, 72-word) referendum. The pre-referendum polls indicate a substantial chance that a “no” vote would prevail, which in turn might precipitate some combination of further Greek defaults beyond its missed payment last week to the International Monetary Fund (the largest such missed payment in IMF history, and the first ever by an advanced country); bankruptcies of one or more of Greece’s four main banks, all of which are on European Central Bank life support; or Greece reintroducing its own currency, the drachma. Read more.

Meet the Authors

Matt Slaughter is the Signal Companies' Professor at the Tuck School of Business, the faculty director of Tuck's Center for Global Business and Government, and the associate dean for faculty. He is also currently a Research Associate at the NBER; an adjunct Senior Fellow at the Council on Foreign Relations; a member of the Congressional Budget Office's Panel of Economic Advisers; a member of the U.S. State Department's Advisory Committee on International Economic Policy; and from 2005-2007, he served as a Member on the Council of Economic Advisers in the Executive Office of the President.

Matthew Rees is the founder of Geonomica, a consulting firm that has worked with clients across a number of industries, and a senior fellow at Tuck’s Center for Global Business and Government. He is the founder of FT Newsmine, a weekly brief of financial market facts and figures produced in collaboration with the Financial Times, as well as The Geonomica Brief, an independent publication with a similar focus. A former journalist, Rees has written for The Wall Street Journal and The Economist. He also has extensive government experience, serving as a speechwriter for President George W. Bush; former National Security Adviser Condoleezza Rice; and U.S. Trade Representative Robert Zoellick.