by Calculated Risk on 5/08/2010 08:30:00 PM

From Nelson Schwartz and Eric Dash at the NY Times: Greek Debt Woes Ripple Outward, From Asia to U.S.

What was once a local worry about the debt burden of one of Europe’s smallest economies has quickly gone global.
...
“It seems like only yesterday that European policy makers were gleefully watching the U.S. get its economic comeuppance, not appreciating the massive tidal wave coming at them across the Atlantic,” said Kenneth Rogoff, a Harvard professor of international finance who also served as the chief economist of the International Monetary Fund. “We should not make the same mistake.”