CAMBRIDGE – Creditors and debtors have found themselves at odds for as long as money has changed hands. But rarely have the issues been framed as starkly – and in such a public manner – as in the just completed Greek referendum.
In a vote on July 5, the Greek electorate resoundingly rejected demands for further austerity by the country’s foreign creditors: the European Central Bank, the International Monetary Fund, and the other eurozone governments, led by Germany. Whatever the economic merits...


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