> Greece was forced to the table because the market wouldn’t lend to it.
Really, because the ECB wouldn't support it. Lots of EU economies (at the time) had great difficulties accessing the markets.
Really, because the ECB wouldn't support it. Lots of EU economies (at the time) had great difficulties accessing the markets.
Why is this relevant? Athens was bailed out by other European countries and by the IMF. That’s why it had no leverage. France is not in a similar position, partly because its population is also a huge investor itself.
Because it demonstrates that this is a political process, not a technocratic one.