ize their banks * Language (with no specifics) regarding the use of EU structural funds to boost growth in Greece What the EU gets: more austerity, Maastricht with teeth (?) and private sector involvement in Greek debt rollover * Legally binding national fiscal framework to be developed by end of 2012; fisc

ize their banks * Language (with no specifics) regarding the use of EU structural funds to boost growth in Greece What the EU gets: more austerity, Maastricht with teeth (?) and private sector involvement in Greek debt rollover * Legally binding national fiscal framework to be developed by end of 2012; fis

k since there are no binding committments at all 110% 100% 90% Little progress on debt reduction despite 20 years of primary budget surpluses 80% 70% Maastricht limit 60% 50% 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 Source: International Monetary Fund. So to be clear, the Twilight of the Gods has not