Vital now to hit our budget targets

Finally, belatedly, the leaders of Europe’s governments have acted decisively to deal with the threat of contagion in the Eurozone from the Greek crisis.

15th May, 2010

Finally, belatedly, the leaders of Europe’s governments have acted decisively to deal with the threat of contagion in the Eurozone from the Greek crisis.

The eye-wateringly large rescue package/ stabilisation fund announced last week (some e0.75 trillion, all told) has achieved its interim goal of calming the jitters in the market and reducing the cost of borrowing for the eurozone’s members.

The threat of a cascade of fiscal crises in individual...

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