The Bailout Bias
The debate over the eurozone’s fiscal problems is focusing excessively on official bailouts, particularly proposed purchases of government bonds on a massive scale by the ECB. But the key to resolving the eurozone crisis lies in properly structured reforms in the ailing countries – indeed, experience shows that there is no substitute.
https://prosyn.org/G4RB5So
WARSAW – The seemingly never-ending debate over the eurozone’s fiscal problems has focused excessively on official bailouts, in particular the proposed purchase of government bonds on a massive scale by the European Central Bank. Indeed, we are warned almost daily – by the International Monetary Fund and others – that if bailout efforts are not greatly expanded, the euro will perish.