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Peyrelevade, Jean

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Le Figaro - France | 09/06/2011

Europe must give Athens more billions

Greece will need further bailouts running into the billions according to the International Monetary Fund, the European Central Bank and the European Commission. Europe must stand united in the crisis, writes the conservative daily Le Figaro: "The interweaving of national debts and banking systems, and of banks among themselves, means that any debt default would be felt by the entire Eurozone and have to be paid by all Europeans. The storm is brewing, Europe must unite its forces. Explicit solidarity is the sole effective solution, not to say the only solution. It would be wise to insist that the public debt of the entire Eurozone now be managed in a coordinated fashion, perhaps even centralised. Needless to say, that can only work with reinforced discipline, and sanctions if need be."

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