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Don't Forget Greece
Developments in Italy and the growing estrangement between the US and Europe, not just over trade, but Russia and Iran as well, are overshadowing the conclusion of the third assistance program for Greece. The end like the beginning is a bit rolling, in the sense that the formal program ends this month, but the final payment is expected in August. And even, then, it will likely come under close scrutiny to ensure that it does not backtrack on the reforms. Even at this late date, the pivotal issue of the sustainability of Greece's debt has not been resolved. The macro-picture has improved, and the fiscal and current ... (full story)