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Business Weekly Archive: Dreadful Debts and Damaged Reputations 

06/02/2010

Dreadful Debts and Damaged Reputations 

BBC World Service - Business Weekly Archive, Dreadful Debts and Damaged Reputations

The Greek debt crisis, Toyota's stained reputation and Sweden's model for bank bailouts.

The architect of the Euro, Otmar Issing warns against any bailout of debt-laden Greece. Plus we look at Toyota's tarnished reputation and visit the Australian town ruined by bush-fires a year ago.

Anxiety has spread through the financial markets about the yawning gaps in the public finances of members of the Eurozone. One of the worst-hit is Greece, whose deficit is more than 12 percent of its economic output. The fear is that Europe's single currency might be destabilised if Greece defaults on its debts, or even abandons the euro.

The BBC's Ed Butler reports from Athens.

And Lesley Curwen talks to Dr. Otmar Issing, one of the chief architects of the Euro, who warns against any financial rescue for Greece.

Plus Sweden's finance minister Anders Borg talks about the stability fee imposed on banks to pay for future bailouts.

And Paul Eisenstein of the DetroitBureau.com reports on Toyota's safety problems and record recalls.

Steve Evans reports from Australia on the town which was devastated by bush-fires a year ago, destroying lives and businesses.

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