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IPFS News Link • Economy - International

Without A Marshall Plan For Greece, There’s No Hope

• ForexCrunch
 Back in the hot days of July 2011, European leaders demanded austerity from Greece, but also agreed on a Greek haircut, or PSI to create some relief. In addition, they were warming up for a “Marshall plan” for Greece.

Perhaps the leaders were excited towards their August vacations. The phrase “Marshall plan” has disappeared with the winter. Without some kind of hope for growth, the Greek recession will continue to deepen, and this will continue weighing on the euro.

The original “Marshall Plan” was for Germany, now the master of the EU. The US and its allies learned the lesson of post WWI that led to the horrors of WWII and tried a different approach of recovering Germany. This was also part of the Cold War effort.