Greece to make final push Tuesday to form coalition

Greece to make final push Tuesday to form coalition

Press quote (CNBC)
14 May 2012

"If Greece moves towards exiting the euro ... the EU would then need to enlarge its bailout funds and prepare other emergency measures," said Charles Grant, director of the CER. ... "They should tell the Greeks that if they wish to stay in the euro they cannot avoid austerity and structural reform ... But to raise the Greeks' morale the EU will have to relax Greece's deficit reduction targets, write off much more Greek debt and think more imaginatively about how to encourage external investment in Greece. Merkel will find such policies harder to embrace than Hollande."