“The rescue package requested by Greece will, if endorsed, buy the eurozone six months, perhaps a year at most. By then, the Greek government will have exhausted the aid and be forced to ask for more or to borrow at astronomical rates. This assumes that, before then, Greece does not precipitate into an even deeper confidence crisis, causing a meltdown of its banks and tax base, and that the contagious fever affecting other countries is contained.” Read more
“A Three-Point Plan to Save the Euro”
European Voice, April 29, 2010.
Via the Carnegie Endowment for International Peace.
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