In addition, it is important to have clear understanding of a bit more complex matters, like: flexible and fixed interest rates and the importance of interest rate risk, what an FX clause means for an unhedged borrower and what the importance of FX risk is, what EURIBOR/LIBOR and other reference rates are and how they can move through time… again to name just a few.
The interconnections created by the single currency have transformed what appeared to be a relatively limited problem affecting the Greek economy, which represents less than 3% of the  1  L. Bini Smaghi, “Lessons of the crisis: Ethics, Markets, Democracy”, Milan, 13 May 2010 (http://www.ecb.int/press/key/date/2010/html/sp100513.en.html). BIS Review 118/2010  1  area GDP, into a systemic issue.