Brendan Keenan: EU leaders must beware removing the ultimate sanction of the market
Published 12/02/2010 | 05:00
EU LEADERS said they wanted to send a 'political message' about the Greek crisis. It doesn't seem to be much more than that -- and most observers had expected considerably more.
It is not so much that a bridge was crossed yesterday, with the vague message of support for Greece, but that a new bridge was opened. We shall have to see who will cross it, when, and how.
The key date looks like being April, when Greece will begin a two-month replacement of €20bn in existing loans.