The Germans have already blinked

The talk about Greece being kicked out of the euro zone has clearly been overdone. Some have suggested that the Germans had reached their fill and that they would 'stare the Greeks down' in this high stakes game of chicken. I have maintained that European policy makers in Greece, in Germany and throughout the euro zone are steadfastly committed to the euro. Recent reports of discussions now ongoing support this.

Moreover, these reports show that Germany is indeed willing to compromise on cor...


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