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Greece nears euro exit as bailout talks break up without agreementLast-ditch negotiations to resume on Sunday after eurozone’s fiscal hawks put up fierce resistance to Alexis Tsipras’s rescue plan
The Island of the Blind: The audacious scam that epitomized Greece’s ‘mentality that rules are made to be broken’
DRIED UPIn an example of featherbedding run amok, the Institute for the Protection of Kopais Lake, which has been dry since 1930, has more than 1,700 workers on its books.
...there are still 30 employees working at Kopais today. When employees retire or are let go, their positions are filled with new employees, who are paid monthly salaries of up to €2,500. They supposedly work on drainage issues, but no one knows exactly what those issues are or who benefits from their work.
In approving the Greek bailout plan, the international community is more intent on saving its own banks than rescuing Greece itself.Creditors must surely realize that the loans are no longer collectable, says Ulrich Blum, the president of the Halle Institute for Economic Research in eastern Germany. "The verdict on Greece is already in."These are drastic measures, and they will deprive the Greeks of the last of their money -- money that will then be unavailable for consumption, which will hamper the economy even further.