New York Times (June 11)
“Bailouts—this one is worth up to $125 billion—are supposed to help restore investor confidence. But investors have clearly figured out what too many European politicians are still denying: serial bailouts, piecemeal plans and one-size-fits-all austerity are not a solution.” The Spanish bailout did not calm anybody’s nerves. The next flashpoint lies just days away with the upcoming Greek election. “With every stopgap solution to the euro-zone debt crisis, the gaps have gotten larger and the stops have gotten shorter.”
“Bailouts—this one is worth up to $125 billion—are supposed to help restore investor confidence. But investors have clearly figured out what too many European politicians are still denying: serial bailouts, piecemeal plans and one-size-fits-all austerity are not a solution.” The Spanish bailout did not calm anybody’s nerves. The next flashpoint lies just days away with the upcoming Greek election. “With every stopgap solution to the euro-zone debt crisis, the gaps have gotten larger and the stops have gotten shorter.”
Tags: Austerity, Bailouts, EU, Investors, Politicians, Spain
