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Saturday, November 22, 2014

Give Greece a Chance - Bloomberg View

Give Greece a Chance - Bloomberg View



"If too much austerity puts Syriza in charge, expect an end to fiscal discipline. The damage, though, won't stop there. The entire European project will be endangered. Tsipras might be willing to force losses on creditors unilaterally. Rising opposition parties in Portugal and Spain are similarly inclined, and they are watching closely. If markets begin to fear a wave of defaults, the resulting turmoil could thrust the whole of Europe back into crisis."

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