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No Grexit for now but the need for some debt relief will be inescapable

Wednesday, June 24, 2015 - 05:50

The headquarters of the European Central Bank (ECB) is pictured in Frankfurt am Main, western Germany, on June 22, 2015.

WITH barely a week to go before the expiration of Greece's bailout arrangement with its creditors, the two sides appear to be finally close to a deal that will, for now at least, enable Greece to avert a default that only last week loomed so large.

Although a final agreement has yet to be

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