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For Greece, it’s the economic equivalent of the Big Bang.

So far, the questions about the tentative Greek bailout deal have focused on the pact’s austere insistence on further cost cuts and new tax increases. But just as disruptive to Greek life could be the fundamental changes the pact is demanding in the cozy old ways that the country conducts business — changes meant to make Greece a more modern, efficient eurozone economy.

The question is whether the economic overhaul, assuming that Prime Minister Alexis Tsipras can make it happen, would enable Greece to grow its way out from under the country’s...

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