Saturday, June 18, 2011

European Debt Crisis: Double Chaos in Greece and between the 17th European institutions

The "guidelines" for the second rescue package for debt-ridden Greek state could be adopted next week. The question is, in this period, the government under Prime Minister Papandreou crashes before.

The Greek debt chaos has its counterpart in the European rescue chaos. Since months will any measure hardly decided again talked down. About the question of whether Greece requires a cut or a debt rescheduling, and if so, how and when it should take place, the European institutions have fallen out completely.

The difficulties of the keepers of the monetary union show that the current regime for the euro zone does not work: there is no effective crisis management, and therefore no confidence in the markets. It is the most urgent task for the EU to stabilize this key element of European integration.

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