Manasse, Paolo & Trigilia, Giulio.
Most analysts agree that Greece is insolvent. This column argues that the issue is whether Greece’s troubles are contagious.
What to do about Greece? So far, much of the debate has split into two camps:
- bail-in-ers, the advocates of coercive (but soft) restructuring of Greek debt, and
- bail-out-ers, those who favour the procrastination of EU-IMF lending plus “voluntary” rollover.
Little of this debate hinges on whether Greece is solvent or not. Everyone agrees that, barring a miraculous rebound in growth, Greece is broke.
Πηγή: Voxeu