Greece was unable to secure a sufficiently strong statement of support from its European partners, much less the immediate infusion of funds it desperately needs....
Greece, the euro zone and the international monetary system need an urgent and sustained implementation of a set of meaningful policies, including action by the Greek government on internal reforms, greater debt relief from creditors and a pro-growth recasting of fiscal austerity.
Unfortunately, I continue to believe there is a very low probability this will happen.
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