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The Myth Of The EU’s €35bn Investment Package For Greece

We can all recall an enthusiastic Commission President Jean-Claude Juncker. Shortly before negotiations with Greece broke off at the end of June he supposedly promised Alexis Tsipras an investment package worth €35bn. At first glance this sounded pretty generous, particularly for a country in which, since 2010, the stock of capital has shrunk because Greeks are no longer fully replacing worn-out machines and plant.

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