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Greece holds the cards, as leaving the euro starts to look more attractive for its economy

There is a strong case that the only solution to Greece’s economic problems is to leave the euro. At current wage levels, Greek workers are unproductive, giving foreigners few reasons to buy their exports and giving Greeks every reason to import from outside their own country. There are two clear ways to restore competitiveness: drive down wages or depreciate the currency. The first diminishes demand in an already depressed economy and worsens unemployment, while the…

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