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Greece Working on Final Draft for Leaders Meeting
So, what are the steps here? Approve it. Handholding press conference. Lots of "defining moment" and "mission accomplished" speeches. Then what? Rumors that 20 billion or more of bonds won't agree to the PSI (that is only 10%). Rioting in the streets? (those ungrateful people just don't understand the need to sacrifice themselves for the greater good). Then we wait to see the reforms fail? If the PSI works and the people accept their fate, at least we bought a few months in Greece because it takes some time to see the plans actually fail. How long until other countries question the wisdom of paying par on their ... (full story)