Why Bailing Out Greece is Not Debatable
Thomas F. Cooley, Forbes | February 18, 2010
Unlike the US, the EU is not a federal union and therefore cannot afford to bail out one of its members. ++ Comming to the aid of individual members of the currency union is simply forbidden. ++ The ongoing debate about the possible Greek bail out plan is not relevant. ++ From the starting point, the eurozone was neither economically efficient for all members nor sustainable in the long run when integrating weak new members. ++ Betting on a future federal EU was the real reason for this risky venture, but it has unfortunately failed today.
