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Who lost Greece?

Pisani-Ferry, Jean, (2012) ‘Who lost Greece?’ ,  www.bruegel.org, 21 Φεβρουαρίου.

Failing an agreement with its private creditors and public lenders, Athens will not be able to meet the next debt repayment deadline of 20 March. Every day which passes underscores the complexity of the negotiation and ratchets up the risk of it being too late to avert default. Even if, as is likely, a solution is found in extremis, many are of the view that it is only putting off the evil day, as Greece will not implement the promised austerity and will end up either deciding to exit the euro or being pushed out following default. The Hague, Helsinki and some in Berlin are wondering aloud why Greece should remain in the euro, in Athens exasperation is mounting by the day, and the bitterness of the disputes is starting dangerously to echo the disputes over German reparations of the 1920s.