The Painful Truth Greece Needs a Debt Haircut Now

German Finance Minister Wolfgang Schäuble visited a ghost town in Athens on Thursday. The only thing left that can help Greece pull itself out of the crisis is a debt haircut by public creditors. Anything else is reckless.
Streets were closed to traffic in downtown Athens and protests were banned during German Finance Minister Wolfgang Schäuble's visit.

Streets were closed to traffic in downtown Athens and protests were banned during German Finance Minister Wolfgang Schäuble's visit.

YANNIS BEHRAKIS/ REUTERS
Photo Gallery: Greece Slims Down
Orestis Panagiotou/ dpa
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Photo Gallery: Greece Slims Down