July 25, 2011
Voters May Derail Euro's Endgame
Andrew Stuttaford, Weekly Standard
Billion by billion by billion, showdown by argument by ultimatum, Greece’s latest bailout is being put together by those who run the eurozone. The country’s finances are so bad, and its prospects so poor, that even the new $159 billion rescue package announced on Thursday will (assuming it comes into effect) probably only prove to be a reprieve.
This really will be the last time, I promise
Never mind. Buying time is the name of the game. If Greece can be kept going, and Portugal and Ireland too, financial markets might, fingers crossed, calm down, and the threat that panic might engulf Spain and Italy—two economies too big to bail—and the banks that have lent to them might recede. Then, come July 2013, the $1.1...
TAGGED: Greece, Germany, Eurozone