Greek Bailout: a Payday Loan With Serious Conditions Attached

The radical Syriza government was elected precisely because Greek voters could see the heavy price exacted in exchange for the ‘rescue’ they had been offered. It’s the kind of hand-to-mouth decision many families whose finances are tight have to make regularly: how to meet the monthly mortgage repayment. But most people know using their credit card, which invariably carries a far higher interest rate, is not a sensible answer.

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