Europe must act now to help Greece and growth

18 May 2012

There may be only a month to go before a second Greek default and possible exit from the euro. There may even be less time, if the bleeding of deposits from Greek banks becomes life-threatening, and central banks or the Eurozone rescue mechanisms do not stanch the flow.

Europe’s leaders cannot afford to let this month tick away.

Greece’s fate lies in Greek voters’ hands, but so does the fate of all Europe. Greece leaving the euro would be a catastrophe, plunging the country into chaos. The rest of Europe would have to finance a defaulted ...

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