All the happy talk about impending debt relief and a clean exit from Greeces third bailout obscures an uglier truth: the countrys debt bondage is being extended to 2060. Worse, by ossifying Greeces insolvency, while pretending to have overcome it, Europes establishment is demonstrating its refusal to fix the eurozones flaws.
ATHENS Greeces never-ending public-debt saga has come to signify the European Unions inept handling of its inevitable eurozone crisis. Eight years after its bankruptcy, the Greek states persistent insolvency remains an embarrassment for Europes officialdom. That seems to be why, after having declared the euro crisis over in the rest of Europe, the authorities seem determined to declare final victor…
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