Bailout showdown: Greece and Germany raise the stakes

Press quote (Time)
24 March 2010

Simon Tilford, chief economist at the London based Centre for European Reform think-tank, says Merkel's brinkmanship is understandable given the political risks of Germany's conceding too soon but that she cannot hold out indefinitely. "It is implausible that Greece could get through the rest of this year unaided," he says. "Ultimately, the Germans will put something on the table. They will always defend the stability of the euro."