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Crippled Greece yields to overwhelming power as deal looms
Greece's Left-wing Syriza government has agreed to draconian austerity terms rejected by the Greek people in a landslide referendum just five days ago, capping one of the most bizarre political episodes of modern times. Prime minister Alexis Tspiras sought to put the best face on a painful climbdown, recoiling from a traumatic fight that would have led to Greece's ejection from the euro as soon as Monday. He implicitly recognised that the strain of capital controls and economic collapse has been too much to bear. “We are confronted with crucial decisions. We got a mandate to bring a better deal than the ultimatum ... (full story)
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