Brussels keeps tending to Greece´s wounds. They plan to release a new 12,000 million loan to the Greek economy that would gain them some time for negotiating the second bailout.
But selling new debt will not keep Greek from bleeding and is like giving matches to a pyromaniac. And it has already been proven that the bailouts were unsuccessful there. The United States should assume that Greece won?t be able to keep to its agreements.
Whatever "restructuring lite" from the payment schedule isn´t anything more than denying reality, enlarging the problem and communicating peripheral risk.
And the FMI demands more guarantees that will recuperate its help. In this hour of great solutions, we should end any new austerity plans. The European debate should start from this point.
