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Greece's new rescue plan is deeply flawed
For many investors, it seems like any deal between Greece and its international creditors is better than no deal. Europe is hatching an agreement to release 7.2 billion euros ($8 billion) in bailout loans to Greece, without which the country will default to the International Monetary Fund next week, and possibly tumble out of the eurozone. Markets like the latest Greek proposal because it would deal with the immediate crisis, but it could store up trouble for the future. Here are three big problems with the plan: 1. The wrong kind of savings Left-wing Prime Minister Alexis Tsipras was elected in January on a promise ... (full story)
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