Greece's woes pose little threat to world economy, even if it leaves eurozone
Olivier Blanchard, director of research at the International Monetary Fund, says Greece's troubles pose little threat to the broader global economy.
In a statement Thursday, Blanchard said the world economy has "withstood the stress tests of the last two weeks fairly well."
Blanchard noted that Greece makes up just 2 percent of the 19-nation eurozone's economy and less than 0.5 percent of the world's economy.
"We continue to hope for and work toward a positive solution by which Greece remains in the eurozone," he says. "There is little question that Greece is suffering and may suffer even more under the scenario of a disorderly exit from the Eurozone. But the effects on the rest of the world economy are likely to be limited."
http://finance.yahoo.com/news/latest-imf-greece-poses-little-132455786.html
Olivier Blanchard, director of research at the International Monetary Fund, says Greece's troubles pose little threat to the broader global economy.
In a statement Thursday, Blanchard said the world economy has "withstood the stress tests of the last two weeks fairly well."
Blanchard noted that Greece makes up just 2 percent of the 19-nation eurozone's economy and less than 0.5 percent of the world's economy.
"We continue to hope for and work toward a positive solution by which Greece remains in the eurozone," he says. "There is little question that Greece is suffering and may suffer even more under the scenario of a disorderly exit from the Eurozone. But the effects on the rest of the world economy are likely to be limited."
http://finance.yahoo.com/news/latest-imf-greece-poses-little-132455786.html