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Greece May Have Ruined Its Best Chance
Even if it survives the next three months teetering on the brink of bankruptcy, Greece may have blown its best chance of a long-term debt deal by alienating its eurozone partners when it most needed their support. Prime Minister Alexis Tsipras’s leftist-led government has so thoroughly shattered creditors’ trust that solutions that might have been on offer a few weeks ago now seem out of reach. With a public debt equal to 175 percent of output and an economy struggling to pull out of a six-year depression, Athens needs all the good will it can summon. It owes 80 percent of that debt to official lenders after ... (full story)
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