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Der Standard - Austria | Wednesday, May 6, 2015

Only debt relief can save Athens now

According to a report in the Financial Times the IMF is urging the euro countries to give Greece debt relief. This is long overdue, the left-liberal daily Der Standard argues: "Because companies, consumers, international investors and creditors examine the economic indicators very closely before undertaking financial activities. And those indicators point to Athens collapsing under the burden of its debts and obligations. This is already having dramatic consequences. After a brief period of recovery the economy is once more stalling and dragging the budget figures down. The government representatives in Athens are not the only ones to blame for this. The euro leaders in Berlin and Brussels are also at fault. The disciplinarians failed to see that they had gone too far. Now the only remedy is for them to concede that all the tax money that flowed to Athens was lost long ago."

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