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In order for a country to pay 180% debt to GDP, many years of very high surpluses are required.

When your debt load is more manageable, you're not required to extract as much from the economy.

Greece has been paying a large debt load for many years prior to entering the eurozone, so there's no reason to think it can't do so again.

While Greece's per capita income skyrocketed in the eurozone, it is now down to simply 1k more a year than it was prior to entering. In other words, Greece lost 2 decades. Is there a reason to believe it can't get back to where it was prior to joining the euro?

by Upstate NY on Mon Mar 16th, 2015 at 07:28:59 PM EST
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