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The End of the Euro, or Just a Greek Tragedy? | | Mar 2 |
Economic issues in Europe have dominated the news over the last few days. Greece is in real danger of going bust; years of corruption, government overspending, and tax avoidance are coming home to roost.
Will the EU Germany and France in particular bail Greece out? If not, the contagion has the potential to spread around the Eurozone to Spain, Italy, Ireland. At least the UK can depreciate its currency to help get out of trouble; Greece is locked into the Euro and has not made the structural changes necessary to adapt since it joined.
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Poker and the Financial Crisis
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The financial crisis hitting the world has caused many people to be worried about the future. Jobs are scarcer, incomes are lower and investments are, for some, entirely wiped out. Where does all this financial doom and gloom leave the world of poker?
The Financial Crisis and Big Live Events
If last year's World Series of Poker is any indication, poker players have a fair amount of insulation against the economic crash. The 2008 World Series of Poker main event saw 6,844 players satellite in or put up the $10,000 entry fee, resulting in the second largest main event field of all time, and a first place prize of over nine million dollars.
In addition, World Series of Poker spinoffs, such as the World Series of Poker Circuit Tournaments and the World Series of Poker Europe, are seeing plenty of success, with full table after full table for every event. Poker is still going strong in other parts of the world as well, on the European Poker Tour, in Macau poker tournaments and on the Asian Poker Tour.
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