Who can save Greece?

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After two months of heated debate, the basic conditions for the joint IMF/EU rescue operation for Greece have now been decided. In this latest Commentary, CEPS Director Daniel Gros takes a closer look at the figures and shows that the magnitude of the funds under discussion can at best tide the country through a rough patch. The key issue that will remain for years to come is whether Greece is willing to undertake the huge domestic effort required to achieve a sustainable fiscal position.

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