Not to dismiss the poor economic budgeting by Greece, but this is going to be a hard sell after the bailouts of bankers. Who really believes the European Union won't step up and intervene? Do we only bailout bankers who retire with hundreds of millions and let others fall? Really?
The European Union would not help bail out Greece, European Central Bank Executive Board member Juergen Stark was reported as saying on Wednesday.
"The markets are deluding themselves when they think at a certain point the other member states will put their hands on their wallets to save Greece," Stark said in an interview with Italian newspaper Il Sole 24 Ore.
Stark said in recent years Greece had not controlled its public accounts or worked to help improve the country's competitiveness.
