WikiLeaks bolsters case for Greek debt relief

The release last weekend by WikiLeaks of the purported transcript of discussions among IMF officials about the best way to compel Greece’s creditors to accept debt restructuring led to much finger-pointing and seeming indignation.

Yet the economic case for forgiving that country’s debt is straightforward: Without relief within a comprehensive reform programme, Greece will struggle to grow, unemployment will remain high, and the turmoil will continue to periodically challenge the functioning of the eurozone.

The political calculus is a lot harder, however.