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Greece faces death by a thousand cuts unless it leaves the euro
"The savings of the citizens would be at risk. The state would be unable to pay salaries, pensions, and cover basic functions, such as hospitals and schools, and … the country - public and private sector alike - would lose all access to borrowing and liquidity would shrink. "The living standards of Greeks would collapse. The country would drift into a long spiral of recession, instability, unemployment and prolonged misery. These developments would lead, sooner or later, to exit from the euro." Up to a point, these warnings are of course all true. Much less clear is whether the enforced penury of continued euro ... (full story)
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