Greek bail-out: Opportunity over risk

Angela Merkel warned the German parliament that putting Greece in a position where it must leave the euro would have “incalculable” consequences, prior to her vote today on a second Greek rescue package alongside a restructuring of Athens’ sovereign debt.

Amid calls from a growing chorus of public figures to let Athens default, Merkel acknowledged the dangers of a second bail-out, but also “the opportunities in the new programme [that] outweigh the risks” for Greece.