It's time for Greece to leave the euro
Hamburg
DOES democracy trump debt? Of course not, not even in Europe. No bank clerk here would be impressed if a family told her that they had voted to have the terms of their housing loan renegotiated - that is not how loans, either personal or international, work. Yet leaders gathered for a special summit meeting in Brussels on Tuesday because the Greeks have done exactly that: they voted against the conditions that the eurozone demands for a third bailout programme for their country.
Of course, negotiations are good in themselves, especially in Europe. But even in Brussels, there comes a time when losing your nerve is a rational choice. I don't say it…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access
China’s better economic growth hides reasons to worry
In AI-copyright battle, an existential crisis emerges
Europe shows diversifying from China’s economy is hard to do