As was expected (and actually predicted) the Tsipras government has raised the issue of restructuring Greek debt and it is facing a full frontal clash with the EU and with Berlin. This is the beginning of a clash that not only affects Greece but all the indebted countries of Europe, including Italy. It relates to the very future of the European Union.Let’s start with a statement: as Rogoff said, the experience of history shows us that,when a country’s debt exceeds 90% of GDP it becomes unrecoverable and the country inevitably tumbles towards Default. There are those that contest this affirmation, saying that there are historical cases that demonstrate the opposite.
