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Submitted by Anonymous on
Greece announced painful new austerity measures worth euro 4.8 billion. Without questioning the merit of these measures as a matter of economic policy choice, I just note that that amount could be doubled or tripled either with savings on interest rate on bonds issued at EU level (the spread between German and Greek bonds would lower with some kind of cross-guaranteed EU bonds) or with a financial transaction tax at EU level to be apportioned for Greece.