Greece: Into the Market

In a bold move that would have excited the imagination of Homer, though he might be hard put to make poetry out of it, Greece wheeled its fragile economy into Europe's Common Market last week. As the first associate member, Greece will benefit from the Market's present 50% tariff reduction for insiders and has been given twelve to 22 years to lower its own tariffs to zero—the near-term goal of the other six nations. This is a special dispensation to give Greece time to shape its inadequate, overprotected and disorganized industries to...

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