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Greek Debt Crisis & Eurozone Crisis

August 22nd, 2012

More political maneuvering  on the Greek debt crisis, which threatens the integrity of the entire Eurozone. After receiving a second massive bailout from Eurozone taxpayers (especially German taxpayers), the Greek political establishment promised that it would adhere to all the austerity conditions, and meet the required timelines. Now, without a trace of embarrassment, politicos are ascending from Greece to towards the decision-makers in the Eurozone, begging for a two-year extension on the formerly sworn promises originally agreed to by Athens.

To be fair to Greek Prime Minister Antonis Samaras, the austerity agreement imposed upon Athens is so crippling, it has plunged the Greek economy into a deep recession, hardly a recipe for the growth required to pay off the massive Greek debts.

These political games seem to point even more strongly towards an eventual exit by Greece form the Eurozone. Once Greece leaves the monetary union, who will be next?



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