About the scholar: Sean Hu grew up in Taiwan and attended Pacific American School in Hsinchu City, Taiwan, China
Sean’s paper analyzes the causes of Greece’s sovereign debt crisis. He suggests that EU institutions were partially responsible. The Single European Market drove up the price of labor, preventing a balance of trade. The Economic Monetary Union encouraged borrowing at low interest rates, and had no effective way to monitor Greece’s excessive borrowing for deficit spending. When the global recession hit, the EU structure had no way to help Greece’s collapse except through bailouts “at the cost of the Greek people,” resulting in a backlash against integration from other countries whose people feared they might suffer in the same way.
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast of the Semantics, a large language ocean. A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradisematic country, in which roasted parts of sentences fly into your mouth.