Allen, Peter, Eichengreen, Barry & Evans, Gary.
Postmortems of last month’s European Union summit meeting have now turned to why the Greek debt rescue failed to restore investor confidence in the country’s finances. Many reasons are advanced: the failure to communicate clearly; the complexity of the plan; the inability to coordinate with the International Monetary Fund. There’s a simpler explanation: The debt-reduction deal failed because it didn’t reduce the debt.
Πηγή: Bloomberg