As The Economist stated in its leader from May 1st, 2010, “It will strike some as mystifying that a small, peripheral economy should suddenly threaten the world’s biggest economic area. Yet, though it is only 2.6 % of euro-zone GDP, Greece sounds three warnings that reach far beyond its borders.”
• Speculate what these warnings are.
• Based on this example, discuss and defend whether or not big countries such as the United States should be worried about what is happening in small countries such as Greece.
• Draw general conclusions from this case that might be applied elsewhere.