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Only 'Pragmatic Compromise' Can Save Greece
Euro finance ministers and officials preparing to meet Tuesday in Brussels must answer a tough question: How should the burden of restarting and resetting the Greek economy be shared? As they strive to find what U.S. Treasury Jack Lew calls a “pragmatic compromise” on this important burden-sharing issue, the officials are weighing two tricky considerations, compounding the challenge of negotiations that are already under the shadow of past acrimony and broken promises on all sides. The first component concerns the balance between emergency financing and draconian adjustments for Greece. Without a carefully ... (full story)