Don’t bail out Greece
12 February 2010
SUGGESTED
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11 February 2010
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16 February 2010
Trade, Development, and Immigration
4 November 2024
European leaders did their best to avoid a clear stance on Greece yesterday. But with a budget deficit of over 12% of GDP, a debt ratio of almost 120% of GDP, an electorate fiercely opposed to the mere announcement of spending cuts, the leeway for tax increases largely exhausted , and European neighbours terrified of the consequences of a Greek default, a bailout is only a matter of time. Yet it will only exacerbate structural flaws at both the European and the Greek level.
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