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“Greece is exiting the MoU” – any idea what does this mean?

I’ve been hearing the Greek government saying the whole time that “Greece is now exiting the Memorandum [of Understanding].  Any idea what does it mean?

I am asking this because me, common Greek, understands under Memorandum strict austerity and over-taxation and unemployment and recession”.

Any idea what the Greek government has in mind when it claims such a thing? Certainly not the new bailout package currently under construction by the IMF and Germany, right?…

 

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