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Rampell: Greeces long-term debt crisis
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WASHINGTON -- Greece looks poised to demand more debt relief, and Germany has already begun dismissing these demands. But if history is any guide, more rounds of restructuring are likely in store, and Greece’s creditors should probably brace themselves for more, and bigger, haircuts. Greek voters head to the polls Jan. 25 for a snap election -- effectively a referendum on the painful policies the country’s leaders have adopted to appease foreign creditors: chiefly, tax hikes, spending cuts and other austerity measures which have lodged the country in an economic depression with double-digit unemployment.