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Greek elections: Time for the EU to talk debt

Bodo Ellmers

26 Jan 2015 15:45:46

The outcome of yesterday’s elections in Greece puts a new government in power that takes an alternative and proactive approach to ending the heavily indebted nation’s debt crisis. European debt justice groups welcome the plans of the new Syriza-led government to renegotiate Greece’s heavy debt burden with its creditors. These negotiations should start as soon as possible. Muddling through is no longer an option The policy of ‘muddling through’ with which the EU - assisted by the International Monetary Fund - dealt with the Greek debt crisis has lasted for far too long. And it never solved the problem. Today, Greece suffers from a debt burden that is higher than ever before. It amounts to 174 per cent of GDP, roughly three times of what is considered a sustainable debt to GDP ratio ...
Legitimacy and impartiality in focus The United Nations Conference on Trade and Development (UNCTAD) is about to deliver a concept for a new debt workout mechanism. The concept has been developed by a multi-stakeholder expert group that has been convened ...