Economist (May 12)
“If the stakes were not so high, Europeans’ incompetence in the euro-zone debt crisis would be comic.” A year after the Greek rescue began, there is still no end in sight. A new plan is long overdue, but instead “Europeans are bickering like children in a playground.” Call it what you will, it is time for a reprofiling or orderly debt restructuring.
“If the stakes were not so high, Europeans’ incompetence in the euro-zone debt crisis would be comic.” A year after the Greek rescue began, there is still no end in sight. A new plan is long overdue, but instead “Europeans are bickering like children in a playground.” Call it what you will, it is time for a reprofiling or orderly debt restructuring.
Tags: Debt, EU, Greece, Restructuring
Economist (March 31)
A “big step forward” is how Germany’s chancellor Angela Merkel characterized the March 24-25 euro-zone summit. The Economist thinks otherwise. ”Something between a fudge and a failure would be more accurate.” Europe’s leaders must face up to the fact that Greece, Ireland and Portugal are bust and their debts need to be restructured. Delaying the inevitable only makes things worse.
A “big step forward” is how Germany’s chancellor Angela Merkel characterized the March 24-25 euro-zone summit The Economist thinks otherwise. ”Something between a fudge and a failure would be more accurate.” Europe’s leaders must face up to the fact that Greece, Ireland and Portugal are bust and their debts need to be restructured. Delaying the inevitable only makes things worse.
Tags: Debt criss, Europe, Greece, Ireland, Portugal, Restructuring
