Europe’s Failed Course

  

There’s no question that Greece has behaved inexcusably, spending more than it could afford, failing to collect taxes from some of its richest citizens and fudging its books. And while we sympathize with Greek protests against excessive austerity, we have no patience with politicians who continue to drag their feet over pro-growth reforms and privatizations. But the cure is neither collective punishment nor induced recession. Europe must be willing to help Greece grow out of its problems — on the condition that Greek politicians finally commit themselves to market reforms.

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