Greece’s lenders, most notably Germany, insist that they are defending important principles: a country must pay its debts, and the long-term success of the euro depends on everyone abiding by the rules.
That might sound fine in principle, but it rejects reality when the country and the euro are at stake, as they are in the negotiations between Greece and the 18 other eurozone governments, which came to a grinding halt on Monday. The dangerous possibility of a Greek default and a crisis in the euro system have become very real.



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