February 21, 2012
“Growth and jobs” writes David Gow from Brussels
The ink is hardly dry on the second Greek bailout within less than two years and analysts and commentators are already looking towards a third package as the sheer depth of the growth-destroying austerity measures that accompany the €130bn “rescue” become apparent.
Senior EU officials have been briefing that the latest programme – which includes significant gaps even now – is designed to “restore Greece’s competitiveness and growth” and differs from the first one, which manifestly failed, with a greater emphasis on this objective.
Growth and jobs is now the new mantra of the EU. It was the core element of the letter sent to next week’s EU spring summit by Dave and eleven fellow heads of government – stealing a march on Merkozy who normally control the market in missives.
“Without the rebound and growth of the economy… not even the immediate fiscal targets can […]Author :