Commerzbank puts chances of a Grexit at 50%MAT
M. Renzi: Italy is no longer Greece’s “companion in misfortune”
Former European Commission president Jacques Delors wrote an article in French newspaper Le Monde, that is co-signed by former World Trade Organization chief Pascal Lamy and president of the Jacques Delors Institue, Antonio Vitorino. Refering to Greece, Delors, who deepened European integration during his presidency from 1985-1993, suggested the adoption of a three-pronged emergency plan to rescue Greece. His article points out that Greece needs:
(1) financial aid to restore it to short-term solvency;
(2) help via EU programs so it can return to economic growth
(3) an investigation into the burden of Greek debt as well as those of other countries in bailout programs
He said the Greek drama is not solely national with spill-over effects throughout Europe. “An exit from the current crisis means a change in view from Greece… It requires the expression of a clear will to break with the last forty years,” he writes.