Messing up the next Greek debt relief could endanger the Eurozone

Charles Wyplosz 23 September 2013

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The situation in Greece is so disastrous that some form of debt relief is likely. The timing is right as Germany’s electoral ‘purdah’ period has ended.

The most likely solution, however, will make it impossible to deal with other countries. Since the beginning, policymakers have invented “unique and exceptional” solutions to deal with Greece. But these went on to become the blueprint for subsequent programmes applied to other countries.

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Topics:  EU institutions Macroeconomic policy

Tags:  Greek debt, debt rescheduling