Fears grow Greek debt crisis could again RIP Europe apart

Wednesday, April 20, 2016
By Paul Martin

GREECE’S debt crisis could flare up again this summer as its government drags it feet on implementing unpopular economic reforms demanded by its creditors to unlock further cash.

Wed, Apr 20, 2016

Last year the debt-ridden country brought the union to the brink and almost left the bloc over brutal austerity measures dictated by the so-called troika of the European Commission (EC), the International Monetary Fund (IMF) and the European Central Bank (ECB).

At the eleventh hour the Greek government backed down and agreed to reforms in exchange for more cash that stopped the country from going bankrupt.

But policymakers have been slow to put the measures in place.

At the same time, the Greek government is still arguing for debt relief, which is also thought to be a favoured move by the IMF.

However, the EC led by Germany is thought to be completely against writing off any of the money owed by the beleaguered country, out of fear Italy, Spain and Portugal could demand similar treatment.

The Rest…HERE

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