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The Greek Tragedy

1. What are the benefits and costs of using a common currency for Greece, Germany, and the EU?

2. How do the austerity programs imposed by the bailouts help a Greek firm that exports olive oil?

3. For the €750 billion European Stability Mechanism, even Sweden and Poland (EU members that do not use the euro) felt they had enough at stake to contribute. But Britain (another EU member that does not use the euro) decided not to contribute any funds. As a British official, how do you defend this decision?

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