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Staunton, Denis

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The Irish Times - Ireland | 11/01/2015

Greeks deserve same debt relief as Germans got

The left-wing Syriza alliance called last week for debt relief for Greece, arguing that the same was done for Germany in 1953. The plan makes sense economically and deserves Dublin's support, writes the left-liberal daily The Irish Times: "Syriza's proposal to deal with Europe's collective debt problem multilaterally recognises that sovereign debt within the Eurozone can no longer simply be viewed as a national issue. It also reflects the view of many mainstream economists that much of Europe's public debt is unsustainable and that austerity policies are not only causing hardship but damaging the economy. ... Regardless of the Government's view of Syriza's proposal on how to restructure public debt, Ireland should support the idea of a European Debt Conference based on the 1953 London Conference, for the sake of the Eurozone as well as our own."

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