Derek Thompson is senior editor at The Atlantic, and he oversees business coverage for TheAtlantic.com. He is a visiting research fellow at the Committee for a Responsible Federal Budget at the New America Foundation. Derek has also written for Slate, BusinessWeek and The Daily Beast. He has appeared as a guest on radio and television networks, including NPR, the BBC, CNBC and MSNBC.
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Flowchart: Where the Greek Debt Crisis Goes From HereBySep 26 2011, 5:14 PM ET 2Confused about the Greek debt crisis? You're not alone. The latest news is that the European Central Bank is trying out its own version of TARP by creating a so-called "bad bank" to buy up Greece's risky bonds in the hopes of reassuring investors. In return, Athens must agree to a new austerity measures to save enough money to pay back investors who buy their expensive debt. The blog Zero Hedge has passed along a super useful flowchart of what happens if Greece doesn't meet the demands of the Euro zone, the ECB, and the IMF -- i.e. the Troika. Click through. It does a really nice job of explaining why this saga could still produce just about any ending, from a slow, boring victory for the European Union to the dissolution of the euro and a second global recession.