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Argument: Austerity measures of Greek bailout set good precedent

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Supporting quotations

David D. Moenning. "Greece Makes Choice Between 'Collapse or Salvation'." American Foreign Policy. May 2010: "Although the spending cuts are severe, the harsh terms for aid should serve as a deterrent to other countries looking for a bailout. With the rest of the PIGIS (Portugal, Italy, Greece, Ireland, and Spain) experiencing tough times due to massive debt buildups, Germany doesn't want to provide a quick-and-easy bailout to all comers. When countries see that Greece's path, with the IMF's strict terms, is not easy, they will do everything to avoid that for themselves."


Sam Norton. "Necessary Evil: Why the US Should Push for a Greek Bailout." American Foreign Policy. March 28th, 2010: "US involvement is crucial to ensuring that a rescue package is formulated and organized according to the principles of austerity. France and Germany are hesitant to offer assistance, but could be persuaded if the United States emphasizes the importance of the Greek situation to the global recovery and the perils of allowing the crisis to spread. Such an approach will reap vast rewards for the US and its allies in the form of increased economic growth and greater geopolitical stability. For these reasons, President Obama ought to make securing aid for Greece a top priority."

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