Darling: More bailout will be needed in the future

Former chancellor of the exchequer Alistair Darling voices his scepticism about today's agreement on a second bailout for Greece:

"Even if Greece manages to do everything that is being asked for it, in eight years' time they will still have a debt of 120% of their GDP … and you have to ask with a frail economy like Greece whether or not that is possibly realistic in terms of seeing Greece come through that.

"The second thing, which is a problem that is not just going to bedevil Greece but is also affecting the other more weak economies in Europe, and that is where are the policies that are going to get growth? If you don't get growth you don't get the income to get down your borrowing and therefore your debt.

"I suspect Greece will be back at the table at some point and if the eurozone isn't very fortunate other countries will be back as well. It's highly unsatisfactory."
 

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