On the peak of the negotiations for the poor Greece, while Greece was trying to position itself on a fair play on the euro table, the Obama administration has leapt to the defence of Greece, warning Germany and European creditors.
The US deputy-national security adviser said the eurozone authorities had imposed the main burden of adjustment on the weaker deficit states and should do more to accept their share of responsibility for the euro crisis.
Mrs Atkinson described Europe’s insistence on structural reformrather than stimulus as a false dichotomy since one compliments the other. “You need both,” she said, arguing that a culture of “reverse fiscal dominance” had taken hold as countries become overly alarmed by debt burdens
“They have asymmetric rules. They need to make it socially fairer,” she said.
The US administration does not share the widespread view in Europe that there is little risk of…
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