No Citi Does Not Say Greece “Devastation” Is Inevitable

Greece is not a stable country, and it does not have a thriving economy. The country's debt problems and political paralysis have been the subject of much analysis. A new Citigroup Inc. (NYSE:C) report on the state of the world economy takes a look at the situation in Greece and finds that the country may be stabilizing.

The report, which was authored by Willem Buiter and his associates, projects that "large debt relief from official lenders would probably be the only viable (but politically painful) option to restore...