Latest Issue

Europe just dodged a bullet, but the crisis is far from over

Europe just dodged a bullet, for the minute.  Greece will not default, at least not this month. Yesterday the IMF agreed to release €12bn, which is enough allow Greece to pay off all its bonds maturing in July.  The streets of Athens may be filled with rioters, the Greek government may be teetering, but the bondholders will get paid and that means Europe’s financial system has staved off disaster. But the crisis has not been averted,…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect