Germany’s Risky Eurozone Bailout a Positive Step in Right Direction

The German government voted in favor of a European bailout fund designed to aid Greece tentatively set at $600 billion. That rivals in size the bailouts the United States passed at the urging of then-Treasury Secretary Henry Paulson in the fall of 2008 and again in February 2009, which prevented a complete implosion of the financial system whose consequences would have made the resulting recession and market plunge look inconsequential by comparison. 

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