Argument: Bailing out Greece is too expensive for EU

Issue Report: Greece bailout


“Counting the cost of a euro-zone bailout”. The Press. May 2010: “A three-year bailout of Greece, Portugal, Ireland and Spain could potentially cost €544 billion, or roughly 6 percent of the entire euro zone’s gross domestic product (GDP) in 2009. David Mackie, an economist at JP Morgan, expects such a bailout would cost 8 percent of the GDP of the unaffected euro zone countries.”