Greek debt deal doesn’t solve the problem

An agreement reached by Greece’s creditors at 2 a.m. Wednesday again kicks the can down the road and signals Athens will continue to need bailouts for decades, an EU Observer piece suggests. Greece’s creditors agreed to release another tranche of bailout funds and the IMF agreed to remain part of the bailout, even though eurozone states did not meet its demand of guaranteeing debt relief to Greece. When Greece’s third bailout program ends in 2018, eurozone states will have to take a haircut — something unpopular in Germany — or grant Athens yet another bailout.


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