Wednesday, July 27, 2011

Time for the Greece Rescuers to Dig Deeper—for Courage

Another summit, another deal, another disappointment.

The euro zone's struggle to get to grips with its fiscal crisis grinds on, each failure edging more of its members toward the threshold three have already crossed.

The initial reaction to the new funding package for Greece agreed by the 17 euro-zone leaders last week was one of relief, since any deal was considered to be better than no deal, and expectations of its substance hadn't been high.






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WSJ