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While Greece’s fiscal problems are being headlined all over the world, attention should be drawn to the fact that she is not alone in having lived beyond its means and by spending more than its tax collectors have been able to bring in. It is not the only country in Europe or for that matter the only one in the Euro-zone which has passed the convergence criteria for either budget deficit or debt to GDP ratio. As it has been noted, Spain, Portugal and possibly Italy and Ireland are not far behind. What makes the Greek case unique for EU is the manner in which it tries to resolve the issue. Drastic measures such as leaving the EMU and returning to devalued drachmas are neither legally feasible nor politically permissible. Debt default also is not a viable alternative because its main creditors are major German banks and their subsequent failures will lead to major contagion and shake the foundations of the financial markets. Subsequently there are very few other alternatives available but whichever is chosen will set a precedent for the future and similar cases. The most likely outcome will probably not directly involve the EU or the IMF (the International Monetary Fund). It will be the Greek citizens who will be faced with higher taxes, government cuts and economic hardship. Read more...
Finance in Turmoil?, by Ali M.S. Fatemi
Dethroning of the U.S. Dollar, by Ali M.S. Fatemi
Admissions for the Executive M.S. in Marketing and Executive M.S. in Finance starting in March are open

All AGS students under 28 now eligible for student loans from partner bank with no need for a third party garantee. Read more...
| The M.B.A. program is fully accredited in the U.S.: | |
| by the Middle States Commission on Higher Education | |
| as an affiliated program of Arcadia University | |
| The Executive M.S. in Finance and M.S. in Marketing are fully accredited in the U.S.: | |
| by A.A.C.S.B. | |
| and by the Middle States Commission on Higher Education | |
| as affiliated programs of the Baruch College at the City University of New York | |