Sunday October 25, 2020

Board ROOM - Inside business

Euro fudge will not work this time

16th July, 2011

The mess has been there all along, lurking in government and bank balance sheets. However, for the past year and half, since Greece was bailed out, Europe has been pretending otherwise, saying that the bailout programmes were ‘‘on track’’ and everything would be fine, while it was quite clear that this was not the case. Now, finally, the crunch has come, brought on by two things.

The first is that the...

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