The New Greek Debt Bailout Won't Work--Here's Why

``Here, there's got to be that 3.5% of GDP primary surplus (which is high even if it is all to domestic creditors) and then pretty much all of that is going to go off to foreigners: because the debt is owed almost entirely to foreigners. That means that that money is going to be leaving the Greek economy: this really is austerity and it's a severe level of it too... that can still be managed for a year or two: but it's being demanded for the indefinite future...''