Greek drama unlikely to end as a European tragedy

THE tiny Mediterranean nation accounts for just 2 per cent of the eurozone economy. Yet the nation's efforts to reduce its 320 billion euro (S$477.8 billion) debt burden are widely seen as the greatest single threat to Europe's bold monetary experiment. On April 24 another acrimonious round of talks with creditors in Riga ended in failure - raising the threat of a debt default, or worse, an exit from the eurozone.

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