Grexit in slow motion

Greece is inching towards the return of the drachma as a slow-motion Grexit unfolds.

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Greece is inching towards the return of the drachma

Early this week, Grexit appeared to be "the default position", says the FT's Wolfgang Munchau. Barring a deal at this week's last-ditch summit, which is due to conclude on Sunday, it looks set to unfold as follows.

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