On July 5, the Greeks voted no…. In short, Greeks said no to turning Greece into a modern and competitive country.
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Grexit or Not? Eurozone Leaders Attempt to Stem Crisis
Posted July 7th, 2015 at 10:48 am (UTC-5)
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As Eurozone leaders discuss a deal to pull Greece from the brink of economic collapse, Greek banks are rapidly running out of euros and the government will very likely default on some $7.5 billion in debt due later this month. The dire economic scenario has many asking if Greece will exit the Eurozone, a move that observers say could sink the country further into financial disaster.
Currencies Are Easy, Policies Are Hard
Posted July 7th, 2015 at 9:34 am (UTC-5)
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Among those who hope for or predict an agreement between Greece and its creditors that would keep it in the eurozone, there is a widely held belief that introduction of a new currency will be difficult, perhaps prohibitively so.
Let Greece Leave the Eurozone
The bailout plan may rescue Europe — by restoring German-French amity and signaling that the currency union is intact. But it won’t rescue Greece….The kinder approach might be to let Greece leave the euro zone, in what might be called an assisted transition.