Assessing the Odds of a Greek Euro Exit

The Greeks want the euro, but not the austerity. New elections loom. Again
Sweeping up after a rally in the last presidential campaign Photograph by Eirini Vourloumis/Polaris

Has a Greek exit from the euro zone become inevitable—and desirable? After years of holding back the flood, some European leaders appeared ready to let Greece go after an anti-austerity backlash in May 6 elections left the country without a government. “The future of Greece in the euro zone now lies in Greece’s hands,” said Guido Westerwelle, the German foreign minister, in a speech to the lower house of parliament in Berlin on May 11. “Solidarity is not a one-way street.”

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