According to Jean-Claude Juncker, chairman of the Eurogroup of finance ministers, the 130-billion euro bail-out agreed early yesterday “provides a comprehensive blueprint for putting the public finances and the economy of Greece back on a sustainable footing, and hence for safeguarding financial stability in the eurozone”. That statement is wrong on every count. It is not a comprehensive blueprint; it is a sticking plaster. It is not sustainable; sooner, rather than later, Greece will be back asking for more. And it will not safeguard financial stability in the longer term. The eurozone’s own debt stability report ... (full story)