Thursday, June 30, 2011
Greece can be saved from financial ruin Greece avoided an imminent default by taking a brave vote for more fiscal austerity. Yet there can be no doubt that this second bail-out, which follows a similar short-term package in March 2010, must be the last of its kind. Either Greece with its eurozone partners will agree on a long-term solution, or the rioters in the streets of Athens will prevail the next time that the Greek political system is pushed to the financial brink, says Jeffrey Sachs of Columbia University.
Posted by Michele Kearney at 1:55 PM