Greece needs €100bn debt relief as permanent depression looms: Think Tank

``In a stark analysis, the National Institute of Economic and Social Research (NIESR) laid bare the impact of VAT hikes and strict budget targets that it said could become "self-defeating"... NIESR's recommended debt write-down is much larger than the 30pc implied by the IMF's latest debt sustainability analysis, which warned that Greece may need a full moratorium on debt payments for 30 years... "There will be a permanent fiscal transfer in one way or another between the rest of Europe and Greece," [Meaning] said.''