Out of Greece: The dynamics of contagion

"As I testified before this committee in the midst of the Mexican financial crisis in early 1995, major advances in technology have engendered a highly efficient and increasingly sophisticated international financial system. ...But that same efficient financial system, as I also pointed out in that earlier testimony, has the capability to rapidly transmit the consequences of errors of judgement in private investments and public policies to all corners of the world at historically unprecedented speeds." -Alan Greenspan to House Banking Committee, 16 September, 1998.  --BIG-FLOAT: The American Damocles