Another development in the story of Greece’s struggle with foreign debt came last week when the European Commission issued the nation a €7.16bn bridge loan to avoid defaulting on its repayment obligations. While it narrowly avoided what some say could have been serious consequences, almost all of the loan amount went directly to the European Central Bank and the International Monetary Fund. Put simply, Greece accepted more loans so that it could repay the debt on its old loans. UW Political Science professor Nils Ringe and columnist Koenraad Bogaert joined the Monday Buzz to help sort through the ramifications of these developments, and to contemplate the future of the eurozone.
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