Greek Band-Aids: Less Effective, Rising Cost

Only a comprehensive solution will prevent exit from euro.

The feeling may be mutual.

Photographer: Louisa Gouliamaki/AFP/Getty Images

International Monetary Fund Managing Director Christine Lagarde correctly said last week that the protracted negotiations between Greece and its official creditors required "a comprehensive approach, not a quick and dirty job.” She was responding to the leak of a fund document that highlighted the pressure to craft yet another stopgap that only temporarily averts a meltdown, and she was also emphasizing the need to finding a lasting solution to the crisis that continues to elude the parties.

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