European Institute

Europe’s Two Years of Denials Trapped Greece by Landon Thomas Jr. and Stephen Castle in the New York Times. An International Monetary Fund report in mid-2009 warned of the severity of Greece’s impending debt predicament, but it was ignored or played down by officials anxious to avoid hitting the panic button. The facts, as reported then, are now acknowledged by all the key players. But this well-reported account brings out the cost of delay in facing up to them. Recommended by European Affairs. (11/8)