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Wednesday, June 13, 2012

Greece and the EU in a high-stakes poker game

What once seemed unthinkable is now being discussed openly in Brussels. Greece could leave the eurozone following parliamentary elections on Sunday. All sides are playing a high-stakes game of poker. Those who want to discover what Eurogroup head Jean-Claude Juncker thinks about Greece's future have to brace for some contradictions. "I don't envisage, not even for a second, Greece leaving the Euro area. This is nonsense; this is propaganda," Juncker said at a May press conference. But a different tone came just a few minutes later, when he said, "Our unshakeable desire is to maintain Greece in the euro area. We will do everything possible to this effect." But Greek elections to be held on...