Sarkozy: Euro a 'Mistake' for Greece

Too soon to celebrate? A day after clinching a deal on a debt crisis, French President Nicolas Sarkozy said that letting Greece into the euro zone in 2001 was a “mistake” because the nation entered with false economic data at the time. He added that while Greece was not ready to be included, the new deal will rescue the country—and save Europe. "If Greece had defaulted, there would have been a domino effect carrying everyone away," Sarkozy said. Greece’s foreign minister told the BBC that his country should not be the scapegoat for all Europe’s market crisis. The new deal forces banks holding Greek debts to accept a 50 percent loss, and will pump €100 billion ($142 billion) into Greece.