The Greek debt crisis may be a precursor of future trouble, said Olivier Blanchard, the International Monetary Fund's chief economist, on Thursday. The larger lesson from the crisis is that "the post crisis world is a world of high debt," Blanchard said at a press conference updating the IMF's world economic outlook. "It doesn't take much, just a bad shock, for debt dynamics to go wrong," he said. "We have to be ready to see other episodes of that type," he added.
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