How can the Greeks save more money?
 
The EU's "Stability and Growth Pact" has as one of its primary rules that:
“The Member States undertake to abide by the medium-term budgetary objective of positions close to balance or in surplus…”

I explore what this objective implies in the context of a model of the economy of "TomDickHaria": what happens to its collective GDP where one member tries to achieve the surplus goal set out in the "Stability and Growth Pact?

Having done that, I show how the dynamics of private debt and credit caused the boom in the early years of the Euro, and the bust from 2007 on.