COLUMNIST PAUL KRUGMAN: How America is — and is not — like Greece
The debt crisis in Greece is approaching the point of no return. As prospects for a rescue plan seem to be fading, largely thanks to German stubbornness, nervous investors have driven interest rates on Greek government bonds sky-high, sharply raising the country’s borrowing costs. This will push Greece even deeper into debt, further undermining confidence.Word count: 805
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