ΠΟΛΥ ΑΚΡΙΒΗ Η ΕΛΛΗΝΙΚΗ ΧΡΕΩΚΟΠΙΑ




Financial Times Deutschland - Germany | Monday, September 12, 2011

Greek bankruptcy too costly

German Economics Minister Philipp Rösler for the first time publicly evoked the possibility of Greece going bankrupt on Sunday. According to media reports, the German Finance Ministry has also started calculating the cost of such a scenario. The liberal daily Financial Times Deutschland finds both irresponsible: "Even if many things speak in favour of a reasonable debt-rescheduling for Greece on the long term - at the moment both an orderly and disorderly insolvency would be more expensive and more dangerous than any bailout. The risk of other euro countries being infected is too great. The institutions that could make an orderly insolvency possible - like the European Stability Mechanism - are only just being set up. The supposed solution of allowing Greece to go bankrupt would bring on the next downward spiral. Europe can still afford to finance Greece for another couple of years. All of the euro countries have a stake in Greece's battle of the titans."