Everyone that has followed the massive economic failures of Greece over the past decade have long suspected Greece to lose its sovereignty. The Greek people have long been adverse to taxes yet want large pensions at early ages. There can be no sustainability of economic progress in a country that doesn't have a viable economy yet its population refuses to accept the responsibility to make the needed changes to build a strong economy and a responsible government. Even the banking system is not trusted by the populace. It will take decades of social integration of people from other countries to migrate into Greece before a new ideology, government and business norm evolves into a sustainable Greece economy. This third bailout hasn't fixed one single root-cause problem in Greece. It's only one small step toward reforms in pensions and taxes. The real forecast for Greece is still dismal at best as Greece is a nation without economic viability. No matter the reforms put into place by this government or future governments, without economic developments that get a business base of exports going there will be no significant progress. The misery that will soon ensue upon the Greek people will be very intense. Reforms will cut away at pensions and increase taxes dramatically. Much needed economic progress need be made in the decades ahead, imo.
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