FOREIGN AFFAIRS Greece and EU stare into abyss of debt, austerity*

With Greece at the point where it can no longer meet payments to its creditors on its mountain of debt, it and the European Union stand on the edge of a precipice from which there seems no going back. Alexis Tsipras The central problem is the Greek Government debt, now estimated to exceed €400 billion ($580 billion), almost twice the country’s gross domestic product (GDP), and nearly twice the average of the Eurozone. Since its debt crisis began in 2010, Greece has been grant…

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