By Chris Bailey of Financial Orbit | Sunday 22 February 2015
So - apparently - there is some element of a deal for Greece although the more I read about it the more I think that it is nothing really more than kicking the can down the road for four months at most. The trouble is that it does not get to the heart of the problem: debts that still need to be serviced or refinanced. Given the only viable solution is a restructuring (which will have other repercussions) I really struggle to see how ultimately this is nothing more than a sticking plaster. And that is not all that is wrong with the world.
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