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It is unlikely Greece will leave euro, and the country will move from crisis to crisis

Jul 02, 2015    

On 30 June 2015, Greece defaulted on a payment of 1.6 billion euros that it had to make to the International Monetary Fund (IMF). This made Greece the first developed country to default on a payment to the IMF.Greece has already been bailed out twice by the economic troika of the IMF, European Commission and the European Central Bank (ECB). These bailouts came with severe austerity measures which had to be followed by the Greek government.The idea was that the government should start generating a budget surplus to be able to repay the money it owed to the troika. Budget surplus is a situation ...

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