06 Aug 2015

Why Greece declined a euro holiday

Daniel Gros

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In a new CEPS Commentary, Daniel Gros speculates on why the Greek government suddenly turned an about-face on July 13th and conceded to terms that not only controverted its own promises, but also closely resembled those that voters had overwhelmingly rejected in a popular referendum barely a week earlier?

Daniel Gros is Director of CEPS. An earlier version of this commentary was published by Project Syndicate, 4 August 2015, and syndicated to newspapers and journals worldwide (http://www.project-syndicate.org/commentary/why-greece-accepted-more-austerity-by-daniel-gros-2015-08)). It is republished here with the kind permission of Project Syndicate.