The Star Tribune quotes Global Business and Economics Program Director Andrea Montanino on how markets are reacting to the Greek crisis:
This is not just a European problem. The impact could be global. “Market reaction is very difficult to predict,” Andrea Montanino, Director of the Global Business and Economics Program at the Atlantic Council, told an editorial writer. “If markets are rational, they understand this is a minor thing. Everybody in the world is talking about Greece, but it’s 3 percent of Europe’s GDP, it’s a relatively small country in the global economy and Europe has a lot of firewalls. So I don’t see any big trouble. But markets can also be irrational …”
It’s time to restore rationality to Greece, the European Union and, by extension, global political and economic order. Greek voters, as well as Greek and European leaders, should proceed with appropriate caution.