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„We Won´t Get Any Money Back“

Comment › Opinion ♦ Published: June 9, 2012; 17:08 ♦ (Vindobona)

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The former director of the Austrian Institute of Advanced Studies (IHS) does not think that Greece is able to pay back its debt. Nevertheless, Felderer still believes in the euro.

„We Won´t Get Any Money Back“ / Picture: © IHS Vienna

In an interview with the Austrian magazine „Presse“, Bernhard Felderer stated that Spain will not become a „second Greece“. Nevertheless, it would be a „bad signal“ if Spain would seek help. „The size of the write-downs in the real estate sector was underestimated by the banks and the government. But we do not talk about a haircut like in the case of Greece.“ For…