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Saturday, July 18, 2015

Charles Wyplosz : The new European Union | VOX, CEPR’s Policy Portal

The new European Union | VOX, CEPR’s Policy Portal

The new bailout deal for Greece was not easy. This column argues that it was also a failure. It will not be enough to recapitalise banks, it asks for structural reform that exceeds Greek capacities, and it raises the Greek debt-to-GDP ratio to unsustainable levels. In a few months or quarters, the programme will fail and the Grexit question will flare up again.

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