Large demonstrations and 24-hour strikes have been staged in Greece against unemployment and austerity measures (photo: dpa)

Eurozone bailout economies vulnerable to interest rates rise

Any rise in interest rates could tip a number of eurozone countries deeper into trouble. European Union countries involved in bailout programmes are still very vulnerable - with the exceptions of Ireland which is safe and Greece which is hopeless. The key is the cost of debt-servicing. Bailouts will not be enough to ease the cost of debt-servicing, and debt-restructuring will be inevitable if rates rise and growth does not speed up.

<i>The EU bailout programmes unveiled in 2010 ended up involving five economies - Ireland, Spain, Portugal, Greece and Cyprus. Three countries have left the bailout programmes in the last year. Ireland is in relatively good shape, while Spain, Portug...

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Professor Enrico Colombatto
Greece is a hopeless case. Its economy needs deep changes and its public-finance situation is dramatic
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