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You should actually read the IMF's memo on the Greece bailout. It's horrific
Germany and the EU "won" their arguments with Greece, and the country accepted another bailout deal as the cost of staying in the eurozone. Neither the country nor the people wanted the bailout to come with another painful austerity package, but it has. But it is not until you actually read the IMF's July 14 memo on the current state of Greek debt (PDF) that you realise just how far from reality German chancellor Angela Merkel was when she got her victory, and just how realistic the protestations of prime minister Alexis Tsipras and his left-leaning Syriza government actually were. The IMF's analysis is brutal. ... (full story)
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