It's hard to imagine a country less deserving of solidarity than Greece. Its debt-to-GDP ratio is nearly double that of would-be savior Germany, and the previous government in Athens was actively concealing a 13% budget deficit. Some European leaders are also beginning to understand that there is an even bigger threat to the euro than Greece's public finances. The single currency itself could be dragged down by the consequences of a bailout for one small profligate country.
Tuesday, February 16, 2010
Posted by macbeach at 3:48 PM