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Ferdinando Giugliano

Greece Is Trapped

Efforts to get the country’s banks to deal with their mountain of bad loans gradually is only delaying the inevitable.

Still standing.

Still standing.

Photographer: Yorgos Karahalis

If you thought Greece’s ordeal was over, think again.

Months after exiting its international rescue program, the country faces renewed trouble in its banking system. There is no easy fix: money is short and investor patience thin. But it looks increasingly like the gradual approach pursued by Athens and the euro zone authorities is running out of steam.