May
28

Drachma Drama

tsipras-varoufakisDespite harsh words and deadlines that are always missed, the EC/ECB/IMF and Greece will make a deal freeing up billions to save Greece from bankruptcy. Whatever temporary agreement is forged will look great on paper and allow everyone to save face. That said, Greece won’t implement the required fiscal and institutional fixes and the status quo will continue to fester.  The alternative of Greece leaving the EU is much worse.

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