No Greek bail-out decision welcomed

A LEADING Irish economist welcomed the decision for no immediate bail-out of Greece, warning that any such move could be to the detriment of all euro countries, including Ireland.

Dr John Fitzgerald of the ESRI said handing money to Greece now could be a signal to other heavily indebted countries like Portugal and Spain that there was an easy way out.

If the member states do decide to bail out Greece to safeguard the financial stability of the eurozone, Dr Fitzgerald said that they will impose stringent conditions.