With Negotiations Reaching an Impasse, a More Radical Approach is Needed to Solve the Greek Debt Crisis

In February, Greece agreed to a four month extension of its current bailout programme, subject to the approval of reform measures proposed by the Greek government. As yet, however, the country’s creditors have still not reached an agreement over the reforms which have been put forward. Tough negotiations ahead, the piecemeal approach which has so far been adopted by Eurozone governments during the crisis is becoming increasingly unsustainable.