| Author (Person) | Peel, Quentin, Wiesmann, Gerrit |
|---|---|
| Series Title | Financial Times |
| Series Details | 4.3.10 |
| Publication Date | 04/03/2010 |
| Content Type | News |
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Analysis feature in which writers say 'Ever since Greece’s financial turmoil came to a head last year the European Union has been wrestling with its own – entirely predictable and predicted – crisis in the eurozone, while lacking a full range of economic and financial tools to deal with it. It has also meant attempting to reconcile profound differences, above all between Germany and France, on the need for more intrusive intervention in national fiscal policy, tougher surveillance of national economic reporting and management, and a back-stop of some sort of financial assistance available for eurozone members getting into difficulty'. Article concludes: 'The official line remains Greece can regain its credibility in the markets without a loan, but most officials and politicians, while deeply opposed to the idea, are privately convinced some sort of rescue package will be necessary'. On 7 March 2010 Germany's finance minister Wolfgang Schaeuble called for the creation of a European equivalent to the International Monetary Fund to help euro-zone countries like Greece deal with a crippling debt crisis. |
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| Subject Categories | Economic and Financial Affairs, Politics and International Relations |
| Countries / Regions | Europe, Germany, Greece |
