Germany Rejects Greek Request For Loan Extension As Friday Debt Deadline Draws Near

Battered by multiple recessions, buried in increasingly costly debt and up against implacable creditors, Greece seems to be running out of options. Just a day before the deadline for a compromise on Greek debt, negotiations between Athens and stubborn European authorities hit another impasse. “It’s like a game of chicken,” says Nicholas Economides, professor of economics at NYU's Stern School of Business. “Both sides are giving ultimatums to each other. This is not the...

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