May 24, 2011
The business secretary, Vince Cable, has become the first cabinet minister to admit he is sure that Greece will have to reschedule its debts, adding that he did not think continually requiring Athens to cut its public spending was the answer.
Cable said he believed rescheduling Greek debts was the best option for the eurozone, and predicted it would lead to a closer political union.
Britain has not taken a formal view on whether Greece should be allowed to reschedule its debt, with the European central bank eager to keep the proposal off the agenda – describing it as a horror scenario.
In an interview with the Guardian, Cable said: "What they are going to have to do is to have a rescheduling of their debt and it can be done in a soft way or a hard way, and that's what the current debate is about.
"You can't just deal with this by cutting, cutting, cutting – it's wrong, and it does not work. Attacking the debt, and dealing with it in a more pragmatic way, is the way out of this.
Περισσότερα
No comments:
Post a Comment