Boom Bust Season 2 Episode 133 Europe Joins Chinese Bank As Greek Woes Continue

In season 2 episode 133 of Boom Bust, titled "Europe Joins Chinese Bank As Greek Woes Continue," the program delves into the latest developments in the Greek financial crisis and the decision of several European countries to join the China-led Asian Infrastructure Investment Bank (AIIB).

The episode starts with a discussion of the continuing struggles of Greece, which is still grappling with the fallout from the debt crisis that began in 2010. Having narrowly avoided a default on its loans earlier in the year, Greece is now facing tough negotiations with its creditors over the terms of repayment. Boom Bust's hosts examine the implications of the latest round of talks, looking at the stance of the various parties involved and commenting on the potential outcomes for the Greek economy.

The show then turns to the recent decision by several European countries, including the UK, Germany, and France, to apply to join the AIIB, a move that has caused controversy in some quarters. The AIIB is a new international development bank, set up by China to provide funding for infrastructure projects in Asian countries. The decision of European nations to join the bank has been seen by some as a sign of shifting economic power, with China seeking to challenge the dominance of Western-led institutions such as the International Monetary Fund (IMF) and World Bank.

Boom Bust's hosts explore the reasons behind the move, with some commentators suggesting that European countries are seeking to tap into the vast potential for investment in infrastructure projects in Asia, while others believe that the move is a political one, aimed at demonstrating support for China's plans for economic expansion. The program also looks at the reaction in the US, where officials have expressed concern about the AIIB's governance and the potential for Chinese influence over the bank's decision-making processes.

The episode concludes with a discussion of the wider implications of the developments discussed. As Boom Bust's hosts note, the Greek financial crisis and the rise of China as a global economic power are just two of the many factors shaping the current economic landscape. With new players such as the AIIB entering the fray, it remains to be seen how the balance of economic power will evolve in the years ahead. This episode of Boom Bust offers a thought-provoking analysis of these issues, providing valuable insight for anyone interested in the state of the global economy.