A New Greek Test for Europe
Greece’s debt crisis may have been pushed off the world's front pages, but it has not gone away. Indeed, the upcoming decision on the next round of Greek aid threatens to break the mold on the scale of official debt forgiveness, defy the IMF’s presumed insulation from default, and trigger a new round of political and legal turmoil.
https://prosyn.org/U4QBokO
PRINCETON – Over the last year, it has been easy to lose sight of the Greek debt crisis. Brimming with official funds, Greece was apparently on the mend. Though privatization plans lagged, the Greeks won high marks for doubling down on fiscal austerity. In Europe’s summer of quiet triumphalism, ever-lower expectations were easy to beat.