With talk of a third bailout in the air as it battles with international lenders over reforms, Greece is getting some advice from the foreign media.
Barely a year after emerging from a savage recession comparable in its intensity to the Great Depression in the U.S., Greece’s economy is shrinking again even though tourists will be coming in droves.
Greece’s new Radical Left SYRIZA-led government is desperately trying to find cash to cover its obligations and repay international lenders.
Eurozone nations are negotiating a third bailout worth as much as 50 billion euros ($56 billion) for Greece, Spain’s Economy Minister said.
Another SYRIZA campaign promise – this one to get rid of the hated unified ENFIA property tax – may not fall victim to demands from international lenders not to relent on reforms
Bank of Greece Governor Yannis Stournaras said Greece must do as ordered by international lenders to lessen a liquidity squeeze and high funding costs.
Despite a four-month bailout extension, Greece won’t be able to pay lenders without their help, Greek Finance Minister Yanis Varoufakis said
Germany issued a warning that Greece’s new government must follow up vague promises of reforms with action or face more consequences.
Struggling with international lenders, Greece’s new Radical Left SYRIZA government also has problems at home with money running out.
Speaking with their money, investors still believe Greece and international lenders will work out a debt deal and remain confident.