Crisis lexicon thrives but Greek debt does the talking

The Greek debt crisis may be giving eurozone finance ministers plenty to talk about in Brussels this week, but their careful choice of words has led to a veritable boom for the economic vernacular.

We have 2007 to thank for the terms ‘sub prime’ and ‘credit crunch,’ now 2011 has given us a new lexicon. It includes words like ‘soft’ and ‘hard’ restructurings and ‘brutal austerity.’

Economic novices may think they are alone in finding this new jargon opaque and perhaps intimidating. Fear not.

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