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Wednesday, May 13, 2015

How Greece Fell into the Eurozone Trap | Foreign Policy

How Greece Fell into the Eurozone Trap | Foreign Policy

when the financial crisis hit, Greece was running double-digit fiscal deficits and had accumulated debts worth nearly 130 percent of the country’s GDP. It had not addressed underlying structural problems, including spotty tax collection, business-choking regulations, and a vast, inefficient state bureaucracy. Since then, the country still has not summoned the political will to redress these issues.

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