Greece Wakes Up to Dornbusch Law as ECB Puts It on Crisis Clock
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When it comes to economic turmoil, few said it better than the late Massachusetts Institute of Technology professor, Rudiger Dornbusch.
“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought,” he said. Referring to the Mexican debt crisis of the 1990s, “it took forever and then it took a night,” he said.