Greece's fight to win its second international bailout may onlyopen a new chapter in its struggle to remain in the euro area.

The rescue plan, which European officials and Greek creditorssay may be wrapped up in coming days, includes a loss of more than70 percent for bondholders in a voluntary debt exchange and loanslikely to exceed the 130 billion euros ($171 billion) now on thetable.

That won't stanch the bleeding, say economists including HolgerSchmieding of Berenberg Bank in London. Greece will be saddled withtoo much debt, too little growth and too large a budget hole to dowithout even more money that euro nations led by Germany areincreasingly reluctant to offer, they say.