Don’t Lend to Your Euro Friends
After months of brinkmanship, and only a week after Greek voters rejected the conditions for a rescue package, the eurozone's political leaders agreed to start negotiations on a much larger package, worth almost half of Greece’s GDP. Unfortunately, the deal reveals Europe’s apparent determination to reenact the same tragedy in the future.
https://prosyn.org/cn7hcpM
MUNICH – After months of games and brinkmanship, and only a week after Greek voters rejected the conditions for a €7.5 billion ($8.2 billion) rescue package, the end came swiftly. The eurozone’s political leaders agreed to start negotiations on a much larger package, worth €86 billion, almost half of Greece’s GDP. Unfortunately, the deal reveals Europe’s apparent determination to reenact the same tragedy in the future.