Sunday, 16 October 2011

Greece's wild card

When the G20 finance ministers gather in Paris they face a stark fact: that nearly a year and a half since Greece received its first bailout, the crisis remains unresolved. Europe's leaders will be asked yet again what they are going to do with Greece.
Sure, the country now looks certain to receive another tranche of bailout money next month. A cool 8bn euros (£7bn; $11bn). But it is a band aid and everyone knows it. For since May 2010 the Greek economy has shrunk and its debt mountain has grown. Next year the debt-to-GDP ratio could reach 172%.

0 σχόλια: