The Greek Bailout Deal: A lifeline for Survival or another Tragedy?
On 13th July 2015, Eurozone leaders unanimously decided to agree on a proposed bailout deal for Greece after a grueling process of negotiations. However the financial crisis is far from over because the country has ceded to EU pressure and agreed to another set of harsh austerity measures. The deal has not been received well by Greeks who were promised much more by Prime Minister Tsipras and his SYRIZA party. If at least for now the Grexit option seems to have been avoided, it is important to (1) conceptualize the effect of austerity so far, (2) revisit the effects of the referendum and (3) think about possible scenarios for the next episodes of this openended saga of EU politics.
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