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Greece Departure From Euro Zone Inevitable, Issing Tells Stern

Greece will find it “impossible” to get back on its feet even after the country implements austerity measures and it is inevitable that Greece will have to leave the euro-zone, Otmar Issing, the former chief economist of the European Central Bank, was quoted as saying in an interview with Stern magazine published today.

He said Greece needs a debt haircut of at least 50 percent, according to the magazine.

To contact the editor responsible for this story: Rajiv Sekhri at rsekhri1@bloomberg.net

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