Greece Is Quickly Turning Into Europe’s Worst Nightmare
ELENA HOLODNY AND MICHAEL B KELLEY
BusinessInsider.com
Jan.29, 2015
Greece is quickly turning into a nightmare for Europe.
Syriza, the radical left-wing political party which won the Greek parliamentary elections over the weekend, surprised the EU by challenging economic reforms as well as the sanctions imposed on Russia.
Berlin and its European partners insist on reforms as a condition for receiving more aid that Athens desperately needs by next month to service its debt.
The new Greek finance minister, radical academic Yanis Varoufakis, once likened German austerity policies to “fiscal waterboarding.” And this week Greece halted two big privatizations without consulting EU officials and pledged to raise pensions and rehire fired public sector workers.
On Thursday, the EU managed to extend the existing sanctions against Russia by six months, but Reuters reports that they dropped language about drawing up “further restrictive measures” that had been in a pre-meeting draft.
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