Juncker calls for 'soft restructuring' of Greece's debt | EurActiv

"Greece does not entirely respect the economic adjustment programme which we had agreed upon when we have put at the disposal of the Greek authorities guaranties to the amount of €110 billion. Therefore Greece needs to adopt, in the next few days, additional corrective measures concerning the budget deficit which continues to aggravate, instead of diminishing," he said.

This is as in Neoliberalism 101: if the prescribed cure doesn't work, it is never because the diagnosis or the cure was wrong, but because it wasn't implemented radically enough.

Juncker added that Greece should adopt measures "of very large scope" to address the problem of its weak growth potential, and that the country should conduct privatisation "in a measure exceeding imagination, even Hellenic imagination".

Greece should rapidly privatise assets from its public sphere to the amount of €50 billion, as well as its national heritage, in a way that would bring its debt to sustainable levels in the medium and long term, Juncker went on.

Words fail.

_{*Lunatic*, n.
One whose delusions are out of fashion.}