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Heard on the Street: The politics of Greece

If the deal on Greece is judged to have failed, markets and voters will exact a heavy price

Signs are growing that eurozone politicians understand the urgency in putting an end to the Greek crisis, both to avoid any risk of an accidental default and to provide breathing room for other vulnerable eurozone members. A deal on an aid package seems likely in the coming days.

Still, politics are unpredictable at the best of times. Markets are rallying, but are holding back from total assurance that a rescue is assured.

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