The Greek Debt Crisis: Political Bankruptcy

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I found it instructive to see the fact that Greece has officially requested the first installment of its EU-IMF bailout package tacked on almost as an anecdotal footnote to an article describing the larger EU-IMF bailout plan approved over the weekend. It reflects the way that the “Greek debt crisis” has now become a signifier for something much larger, in the way that “Lehman” or “subprime” did before it. What is that much larger something? For one thing, it’s the fact that in the space of a few months, there no longer seems to be a solid foundation under what […]

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