[occamrazor]

Cutting expenses has not solved the _debt_ problem, but has surely solved the _deficit_. Greece has a strong primary surplus.

[shkkmo]

> but has surely solved the _deficit_. Greece has a strong primary surplus.

No, it hasn't. The "primary surplus' doesn't include any debt repayments.

[Bartweiss]

Yes, exactly. I said "too little too late" because a primary surplus doesn't resolve crippling debt - at this point it looks like the debt is far too large to handle with any kind of sensible short-term spending cuts.