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Expert, Saving Up to Greece ECB not to U.S.

Economides, Athens to Their Panic but Arrive Early Aid

Reuters - Politics News Service
© 2012 Reuters

(ANSA) - ROMA, 19 MAG -'' The U.S. is not able to contribute in any way with the new funds established 'European'' and the response to the crisis, starting with the rescue of Greece'' must come from Frankfurt , in the form of a substantial expansion of funding for the firewall, the trench fighting for the common currency.'' This was stated in an interview with the Morning Nicholas Economides, a professor of economics at the Stern school at New York University and former adviser to the greek government, but also that of Ireland and Portugal.

At the time, says,'' I do not see elements of panic. There 'a run on banks by depositors'' Greeks, at least no more''''' of the last two years, it 'there' popular support for the'' opt out'' of the single currency. And 'rather than'' the failure of Europe to cause tension, and on this front should be that strong countries like Germany and France express themselves clearly.'' '' The call to the polls and 'exactly a sign of stability' because'' ''' without political leadership, our country can not' proceed with the reforms and expenditure cuts. Instead of threatening to steal the money, this would be quite the time to extend its offer and to give Greece difondi to invest in the recovery.'' '' And our provocative policy must stop sending signals'' destabilizing, including the Central Bank announced yesterday that it'' and 'willing to refinance some, but not all, Greek banks''. Message'' destabilizing'' useless'' because the smaller banks that would cut off'' and'' are little exposed the difference for the ECB in terms of outlay would be minimal.''

Europe, concluded,'' must stop underestimating the problem of supporting the economies in trouble 'because''' without'' a courageous and generous, the union as a whole is likely the worst.'' (ANSA).

Additional coverage appeared in Il Mattino, BBC World News, Bloomberg Businessweek, Chinese Radio International and Aljazeera TV.