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A clash of titanic national illusions is at play in the critical negotiations between the new Greek government and the Eurogroup on the future of the financial assistance program to Greece.
It is an illusion for the Greek government to believe that it can escape its obligations to the other Eurozone countries that have financially supported Greece when it risked collapsing and over the past few years have already agreed to lower the cost and extend the maturity of Greece’ debt. It is an illusion to believe that, in an economic and monetary union that has rules as its cornerstone, a new Greek government can be let renegade at will agreements of previous governments. It is an illusion to believe that Greek democracy counts more than democracy in other Eurozone countries where the public opinion is against further financial solidarity with debtor countries. It is an illusion to claim that “we […]

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