Europe
dodged a bullet on Sunday. Confounding many predictions, Greek voters
strongly supported their government’s rejection of creditor demands. And
even the most ardent supporters of European union should be breathing a
sigh of relief.
Of
course, that’s not the way the creditors would have you see it. Their
story, echoed by many in the business press, is that the failure of
their attempt to bully Greece into acquiescence was a triumph of
irrationality and irresponsibility over sound technocratic advice.
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