IntroductionMany people regard debt relief and socialization of debts as the only way out. This help has been given. The recent agreement gave Greece relief of €237 billion ($316 billion), about 30% more than Greece’s net national income of roughly €180 billion euros. But such help only entrenches the wrong prices – and thus the economy’s lack of competitiveness. The debts will re-emerge like a tumor, growing year by year, while undermining the creditworthiness of stable eurozone countries.
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