Failure to reform fiscal rules could haunt euro zone

Press quote (Reuters)
10 February 2010

"Right now there is nothing to force adjustment on Germany, whose surpluses are the flipside of the Greek deficits," said Simon Tilford, chief economist at the Centre for European Reform. "I'm not sure we will see the changes that would prevent future crises. Countries with big trade surpluses first need to realise they are part of their problem."