Argument: Bailing out Greece is a necessary evil

Issue Report: Greece bailout


“Greece Makes Choice Between ‘Collapse or Salvation'”, David D. Moenning, May 2010 “We are all being called to make a choice. The choice is between collapse or salvation. The choice is between fleshing out a very ambitious and difficult 3-year program of fiscal consolidation, a program of structural reforms, or the country reaching an absolute dead-end. We have done what was necessary, not what was easy. Without these measures, we’d be thrown into the deepest recession this country has ever known.”

“Greece Makes Choice Between ‘Collapse or Salvation'”, David D. Moenning, May 2010: “We are waging together a difficult and relentless battle dealing with the problems — the dimensions of which one could never have imagined. It is true, we were the first to speak of the crisis — a crisis of politics, a crisis of institutions, a crisis of values which in turn led to the huge economic crisis. No citizen of Greece could ever have imagined the size of the debt and the deficit which the former government had caused and hid upon its exit. This is not the time for accusations, however. The people of Greece are fully aware of where they lie. The consequences, however, are manifold. We have no other choices and no time, so accessing the bailout is inevitable.”