Greek Debt Crisis: Third Time’s a Charm?

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The EU once again agreed to support Greece in a vaguely outlined but yet-to-be-determined way. I’ve actually lost track of how many symbollic expressions of support that makes, but three sounds right. This time, however, not only did German Chancellor Angela Merkel win out on her insistence to include the IMF in any eventual bailout, she also managed to hold on to a future veto for actually implementing the agreed-upon mechanism. What’s more, she got a commitment in writing to explore ways of strengthening oversight of EU member states’ budgetary discipline, which is being described as “economic governance,” but represents […]

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