Euro bailout

Germany backs Greece aid, but at a cost to Merkel

Press quote (New York Times)
Philip Whyte
27 February 2012

"I still don’t see any light at the end of the tunnel," said Philip Whyte, of the CER. "It's not clear to me when Greece returns to growth under this policy mix. The fiscal policy is excessively tight, and Greece is being pushed down a totally self-defeating path."