Without a growth plan, the EU faces financial Waterloo | Simon Jenkins

The latest eurozone rescue scheme may save Greece for now, but it fails on a basic rule of classical economics

This really matters. It matters more than party conferences or Libyan wars or terrorist scares or Olympic games. Europe faces a Waterloo moment, perhaps even a Munich one, as 17 of its finance ministers dither over whether to rescue its economy from the financial wreckage of the past three years, or let it plunge into renewed depression.

A bad-tempered weekend at the IMF in Washington ...