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However it would be wrong to characterise this as austerity forever for most countries other than Greece which has a plainly unsustainable debt burden and little hope of escaping ongoing austerity without debt forgiveness.
Anything that might have a chance of working is off the table for even discussing - see Varoufakis. Putin must be laughing. At least HE knows how to gull the bottom 70% of Russians it seems and he is well on his way to being democratically elected as President for Life of Russia.
"It is not necessary to have hope in order to persevere."
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