Economics

Europe’s Crisis Impasse Signals Greek Lesson Not Yet Learned

  • Crisis in Greece demonstrated danger of holding back on debt
  • But Italy’s debt pile makes sustainability finely balanced
A woman wearing a protective face mask walks at deserted Syntagma square in Athens, Greece, on April 7.Photographer: Yorgos Karahalis/Bloomberg
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Europe’s fiscal stalemate over a joint economic response to the coronavirus suggests its finance chiefs are still struggling to learn the lessons of the region’s all-too-recent Greek crisis.