What Greece Has to Do Now: Fix Its Economy
Harvard Business Review
FEBRUARY 27, 2015
As for its official debt to the EU, the ECB, and the IMF, it consisted largely of payments that were made to pass through to EU financial institutions, between 2010 and 2012, so that the Eurozone banks and insurance companies would not be imperiled. So, clemency on loan terms might make procedural sense. This looks unlikely.
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