On Euro problems from New York
Friday, April 30, 2010
High and Low Finance - Rescuing Greece to Protect Germany - NYTimes.com
High and Low Finance - Rescuing Greece to Protect Germany - NYTimes.com: "About the only thing Europe has so far accomplished is to make the International Monetary Fund look good. When the I.M.F. does a bailout, it imposes strict austerity terms, which makes it wildly unpopular, but it provides money at very low rates. Europe wants strict austerity and high rates. Subsidizing the irresponsible Greeks is simply wrong, or so they say in Germany."
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