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Hospodářské noviny - Czech Republic | Friday, March 19, 2010

Athens should leave the Eurozone

While many have criticised German Chancellor Angela Merkel for suggesting that unreliable countries could be excluded from the Eurozone, not so the business paper Hospodářské noviny: "It's no wonder that Berlin is losing patience. The Germans had to say goodbye to the stable Deutsche Mark because of the euro, and now they're not keen on losing the stable euro. That's the main reason why their suggestions for consolidating Greece's debts are so strict. ... The Greeks for their part are considering turning to the International Monetary Fund for help, although that would give the impression that the Eurozone is no longer able to solve its own problems by itself. But appealing to the IMF is only the second-best option open to Athens as far as the future of the euro is concerned. The best would be to leave the Eurozone."

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