The Economist (June 9)The Economist (June 9)
By postponing difficult decisions about “the Greek mess,” Europe’s leaders are only creating future problems. “The rescuers think buying time reduces the risk of contagion from a Greek debt restructuring to other euro-zone countries. But the pall of an unsolved Greek mess will continue to hang over the euro zone, just as it has done for the past year.” Instead they should begin “an orderly restructuring of Greek debt now. That remains the only solution.”
By postponing difficult decisions about “the Greek mess,” Europe’s leaders are only creating future problems. “The rescuers think buying time reduces the risk of contagion from a Greek debt restructuring to other euro-zone countries. But the pall of an unsolved Greek mess will continue to hang over the euro zone, just as it has done for the past year.” Instead they should begin “an orderly restructuring of Greek debt now. That remains the only solution.”
Tags: Debt, Europe, Greece, Restructuring
