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Yet without such far-reaching changes, he said, the incentives for bankers to take irresponsible risks are even greater than they were a few years ago, and the chances of another crisis, requiring a new set of bailouts, will remain high.
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During each set of bailout negotiations, the ultimate authorities — Angela Merkel, the German chancellor; Mario Draghi, the E.C.B. chairman; and Christine Lagarde, the head of the I.M.F.
Last week he had voted against the first set of bailout conditions, including VAT rises and pension cuts, after resigning his post.
During each set of bailout negotiations, the ultimate authorities Angela Merkel, the German chancellor; Mario Draghi, the E.C.B. chairman; and Christine Lagarde, the head of the I.M.F. have acted pragmatically, insisting on the toughest terms they could extract short of inspiring an insurrection in the country concerned or an outbreak of contagion.
I outlined a whole set of solutions to bailout American workers but the main one is simple: raise wages.
The National Training and Information Center, a network of community organizations, is preparing a set of proposals to make the bailout work and save homeowners.
If Greece, faced with a second bailout and another set of austerity demands, now says "Enough," that point may be reached, forcing a choice between a smaller euro zone or a softer, longer-term rescue policy that emphasizes growth.
Most note, in general terms, that the bailout represents a set of "broad powers" that will be granted to the Department of the Treasury.
We get out of bailouts.
Congress was sick of bailouts.
What's more, the eventual terms of Greece's bailout deal could lead to a new set of regional uncertainties.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com