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Greece Is Still Doomed Without Debt Relief
Keeping Greece inside the euro system was a questionable decision at best -- but, having chosen that course, the country's government and creditors are obliged to make it work. Early signs aren't encouraging. When the Athens Stock Exchange opened Monday for the first time in five weeks, it tanked. Factory production, according to new figures, is in its deepest slump for years. The International Monetary Fund told its board last week that the fund couldn't participate in the next Greek bailout unless Greece's other creditors agree to another round of debt relief. That's a problem. Germany and other creditors are ... (full story)