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Most economists and political commentators believe that the latest Greek bailout was little more than an analgesic. It will dull the pain for a while, but the euro’s problems will metastasize, with a dismal prognosis for the single currency and perhaps the EU as a whole. But the conventional wisdom is likely to be proved wrong. By Anatole Koletsky.
In the early hours of 16 July, the Greek parliament voted overwhelmingly to give up its sovereignty and become a semi-colonial appendage of the EU. A majority of the Syriza Central Committee had already come out against the capitulation...