A Fatally Flawed Recovery Plan Greece Back on the Brink

Greece needs even more money -- EU officials estimate that a new bailout will cost over 100 billion euros rather than the previously assumed 60 billion. It will get the aid, even though the rescue strategy adopted so far seems doomed. The economy is shrinking, and ambitious privatization plans are illusory.
Protestors in Athens demonstrating against austerity measures.

Protestors in Athens demonstrating against austerity measures.

Foto: Thanassis Stavrakis/ AP
Translated from the German by Christopher Sultan