Joseph Stiglitz: how I would vote in the Greek referendum

Neither alternative - approval or rejection of the troika's terms - will be easy, and both carry huge risks

The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: it is about power and democracy much more than money and economics.

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