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Three on Greece

Thu, 3 Nov 2011, 12:00 AM (-06:00) Creative Commons License

So what’s with Greece? Three data points that are refreshingly free of smoke.

1. Kevin Drum has a conversation on Greece and explains how this is not about fixing things but rather a struggle between Greece and its creditors over the huge loses from a train wreck that’s inevitably coming.

2.Yves Smith’s interprets Papandreou’s recent call for a popular referendum on the “rescue plan” that the creditors thought was a done deal is a way to stick it to them, and how the trap is about to snap shut.

3. Barry Ritholtz summarizes the argument that Greece should pull an Iceland, in which they guarantee bank deposits but let the creditors get the soaking their reckless greed deserves.

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