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Europe's establishment is luxuriating in two recent announcements that would have been momentous even if they were only partly accurate: The end of Greece's debt crisis, and a Franco-German accord to redesign the eurozone.While three French presidents and the same German chancellor were failing to agree on the institutional changes that would render the eurozone sustainable, Greece was asked to bleed quietly.A few days later, the Eurogroup of eurozone finance ministers delivered its own "solution" to the Greek debt crisis.The Greek state has thus been offered easy repayments until 2033 in exchange for continuing harsh austerity ad infinitum (a primary budget surplus target of 3.5 percent of national income until 2022, and 2.2 percent during 2023-2060); impossible annual debt repayments from 2033 to 2060 (around 60 percent of the state's tax revenues); and a debt-to-national income ratio above 230 percent by 2060 if the next global recession puts the plan's over-ambitious growth targets out of reach, as it surely will.Yet Europe's establishment, oblivious to the Nationalist International preparing to devour the EU, is serving it appetizers.
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