Greek contagion to Ireland and Spain threatened the whole Eurozone

Evidence

A Greek default would be a risk on its own, but if it spread to Ireland and then Spain, all bets would be off. — Mark Blyth, Austerity, 191

Categorization

• QUESTION: The contagion-chain claim (Greece→Ireland→Spain) deserves scrutiny as a reconstructed-ex-post narrative versus actual transmission mechanisms.
• XREF: connects to: Spain’s housing bubble was smaller than Ireland’s but far more consequential — Mark Blyth, Austerity: The History of a Dangerous…, 187; Eurozone banking integration outpaced national resolution, producing too-big-to-bail systemic risk — Mark Blyth, Austerity: The History of a Dangerous…, 227; The Eurozone crisis was wrongly blamed on sovereign fiscal profligacy — Mark Blyth, Austerity: The History of a Dangerous…, 152

Broader Connections

• Eurozone banking integration outpaced national resolution, producing too-big-to-bail systemic risk #expands (0.85) — Mark Blyth, Austerity, 227
• The Eurozone crisis was wrongly blamed on sovereign fiscal profligacy #complicates (0.80) — Mark Blyth, Austerity, 152