IHS: „Greece Needs Haircut“

Politics ♦ Published: October 24, 2012; 19:59 ♦ (Vindobona)

Christian Keuschnigg, head of the Austrian Institute of Advanced Studies thinks that another haircut will be inevitable.

IHS: „Greece Needs Haircut“ / Picture: © Vindobona.org

In an interview with “Wirtschaftsblatt”, Keuschnigg explains that an exit out of the Eurozone would be too late now. An exit would cause a national bankruptcy and almost a complete failure.

Keuschnigg does not think that Greece will be able to repay its debt otherwise. The only question would be how big the haircut will be.

“A haircut for the public sector, which…