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Probably because Schäuble's offer does not include debt restructuring, all debts remain denominated in Euros, and there is this harebrained idea that the grexit is temporary.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Thu Jul 16th, 2015 at 05:22:45 AM EST
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