As Taiwan’s economy relies heavily on exports, it should be vigilant against a possible domino effect caused by the escalating Greek debt crisis, as crumbling talks with its European creditors over the weekend pushed Greece to the brink of bankruptcy, which could have substantial repercussions.
Greece was expected to default on a 1.6 billion euro loan repayment to the IMF yesterday, with international creditors refusing yet another loan extension due to a lack of substantial economic reform measures.