Reform Watch
OP-ED
Yuriy Gorodnichenko and Oleg Korenok: Greek debt crisis and its lessons for Ukraine
People look at newspapers' headlines in central Athens on June 25 . Greek Prime Minister Alexis Tsipras restarted critical talks with creditors in Brussels in a frantic bid for a bailout deal to save Athens from defaulting next week and possibly crashing out of the euro. AFP PHOTO / LOUISA GOULIAMAKI
Two countries are making headlines in Europe these days: Ukraine and Greece. Both countries are on the brink of defaulting on their debt. Greece has been in crisis for nearly six years, already had a major restructuring of public debt and an unusually large loan from the International Monetary Fund Ukraine has been in crisis for “only” 1.5 years. Ukraine should learn from the Greek experience to avoid some of the worst calamities Greeks had to suffer.
