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Tuesday, May 21, 2013 Last Update: 5:58 PM ET

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Greece is falling out of Europe

By Philip Stephens Financial Times

The people of Greece have rejected austerity. You can scarcely blame them for throwing out a corrupt political establishment. It is also indisputable that the economic prescription written by its international creditors is astonishingly harsh. The problem is that anger is not a policy. As often as Greece votes against austerity, it cannot avoid it.

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