Tommaso Padoa-Schioppa : "Athens must not be left to stand alone"
Article publié dans le Financial Times du 19 février 2010.
For years, Otmar Issing and I worked side by side to make the euro a success, and I think we did. At the European Central Bank we almost always agreed on the stance of policy. When we could not, the hawk was sometimes me. Now comes the Greek debt crisis and the declaration by European leaders that they "will take determined and co-ordinated action, if needed, to safeguard financial stability in the euro area as a whole". I welcome this statement; Otmar condemns it .
The spectrum of possible outcomes to this crisis is wide. At the best, the Greek government could win full public backing for a package that reduces the deficit and restores creditors' confidence. At the worst, we could see Greece default, with a domino effect knocking down other countries and even leading to a break-up of the eurozone. In-between lie many other, more likely outcomes.
Lire l'article sur le site du Financial Times