By 2010, the crushing weight among the debts had absolutely flattened the Greek economy. Unemployment had jumped. As a result, the austerity measures didn’t prove adequate to payment the full balance within the loans. Thus, the international banks along with the Eurozone partners suggested elsewhere . more radical measure.

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Large national industries, Greece agreed, end up being sold to foreign banks at a price reduction. Greek workers, greece agreed, could possibly be taxed somewhat more to from the difference. Social services, Greece agreed, could curtailed or stopped as a whole.

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