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The dark clouds of peace-Built to foster friendship, the euro is manufacturing misery instead

Economist, (2015), “The dark clouds of peace-Built to foster friendship, the euro is manufacturing misery instead”, 18 Ιουλίου

UNRAVELLING the tangled logic of Greece’s bail-out talks, Charlemagne has learned, is a little like trying to explain the rules of cricket to an American. How to make sense of a process in which Greek voters loudly spurn a euro-zone bail-out offer in a referendum, only to watch Alexis Tsipras, their prime minister, immediately seek a worse deal that is flatly rejected by the euro zone, which in turn presses a yet more stringent proposal to which Mr Tsipras humbly assents? Better, perhaps, not to try.

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