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Kurier - Austria | Monday, June 29, 2015

EU squeezing Greece to the bitter end

Greece's looming state bankruptcy is an admission of failure on the part of Europe, the liberal daily Kurier writes: "The country's economic output has sunk by one third. Those who still have work earn around 50 percent less. Three million Greeks have no social insurance. A quarter of the population and over half of its youth are unemployed, many since the start of the crisis. ... The social misery has long since peaked. Now the Greeks are facing total bankruptcy. No one believes this will solve a thing. Rather it is much more likely that the Greeks' plight will only worsen. And all that because we insist on squeezing the last penny out of a country that's already lying motionless, even though it makes no sense from either a humanitarian or an economic point of view . When the EU politicians really want to, they can find solutions. They've proven that often enough since 2009. Ultimately our message - bailing out banks with hundreds of billions? yes; rescuing states? no - endangers the EU project and the euro far more than corrupt Greeks ever could."

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