Greece: RIP

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As Larry Elliott notes this morning, the Greek bail out leaves the contrary as a functioning state in name only.

Because German banks lent recklessly to Greece they have now, in effect, appointed the Troika to run the country to recover their debt.

Anyone who thinks this is a solution, let alone an acceptable solution, has to be mad.

Have we learned nothing. This is 1919 all over again. And look where that ended.