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Greek debt crisis: what happens now?

The country is in trouble again. Without a solution it could leave the euro—and even the EU

By Vicky Pryce  

Greek Prime Minister Alexis Tsipras ©Panayotis Tzamaros/ABACA/ABACA/PA Images

Here we go again. A new impasse between the International Monetary Fund and Greece’s European creditors has raised once more the threat of “Grexit.” The IMF considers Greece’s debt, currently at 180 per cent of GDP, as unsustainable. It has therefore refused so far to take part in the country’s third bailout, agreed in July 2015, unless the European creditors offer debt relief. The Europeans are unwilling to write off debt ahead of national elections—when voters do not want to be…

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