While eurozone leaders now acknowledge the seriousness of their predicament, "the prevailing...

|By:, SA News Editor

While eurozone leaders now acknowledge the seriousness of their predicament, "the prevailing definition of the problem is still too narrow," former IMF chief economist Simon Johnson writes - with most believing this is still a Greek problem. "Even the most negative still think that Portugal and Spain can easily escape serious damage. This is a major misconception."