Foreign Policy: Greece needs to start playing hardball with Germany

“It is ludicrous for some to suggest that Greece would become as poor as neighboring Bulgaria if it left the euro. Greece was much richer than Bulgaria before it joined the euro and living standards in new euro members such as Latvia haven’t leapt since they joined. So why should Greece’s living standards be permanently lower if it left?

The costs of a ‘Grexit’ to the rest of the eurozone, though, would be substantial.


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