December 19th, 2010
Credit Writedowns: Germany has taken all of the criticism for enforcing a hard line on the austerity quid pro quo which allowed the euro zone bailouts to proceed. However, policy makers from a number of other countries share similar concerns about the negative political effects that bailouts for those perceived as fiscally profligate will have. At varying times, we have heard this in Finland, Slovakia, and Austria to name a few countries within the euro zone. Politicians from Sweden and Latvia have also expressed reservations.