samedi 21 février 2015
The Real Battle Over Greece Still Lies Ahead
Posted on 20:07 by nice news
Greek Prime Minister Alexis Tsipras began the task of selling domestically a provisional deal with euro-area partners to extend bailout funds after securing a reprieve from the prospect of the country’s insolvency.
“We won a battle, but not the war as the difficulties, the real difficulties, not only those related to the discussions and the relationship with our partners, are ahead of us,” Tsipras said in a televised speech on Saturday.
Talks in Brussels between officials from the 19 euro-area countries concluded late Friday with an agreement to extend bailout funds to Greece for four months. Tsipras’s government must submit a list of economic measures it will undertake on Monday. Finance chiefs will then decide whether his proposals go far enough.
While the agreement potentially frees up some money to meet at least some of the pledges made by Tsipras before last month’s election, the outcome may still prove politically bruising for him. While the agreement potentially frees up some money to meet at least some of the pledges made by Tsipras before last month’s election, the outcome may still prove politically bruising for him.
Even after Friday’s agreement, his policies are subject to validation by the International Monetary Fund, the European Central Bank and the European Commission, the institutions collectively known as the troika from which Tsipras vowed to break free.
Austerity Canceled
“While Greece secured some ability to rewrite the terms of its current program, the sense is that the combination of pressure on its banking sector and on state cash flows has forced the bulk of concessions to come from their side,” Malcolm Barr, economist at JPMorgan Chase & Co., said in a client note. “This may place some degree of strain within Syriza itself.”
Tsipras said the deal “cancels austerity” and pledges by the previous government to cut wages, pensions and public sector employees and
“We won a battle, but not the war as the difficulties, the real difficulties, not only those related to the discussions and the relationship with our partners, are ahead of us,” Tsipras said in a televised speech on Saturday.
Talks in Brussels between officials from the 19 euro-area countries concluded late Friday with an agreement to extend bailout funds to Greece for four months. Tsipras’s government must submit a list of economic measures it will undertake on Monday. Finance chiefs will then decide whether his proposals go far enough.
While the agreement potentially frees up some money to meet at least some of the pledges made by Tsipras before last month’s election, the outcome may still prove politically bruising for him. While the agreement potentially frees up some money to meet at least some of the pledges made by Tsipras before last month’s election, the outcome may still prove politically bruising for him.
Even after Friday’s agreement, his policies are subject to validation by the International Monetary Fund, the European Central Bank and the European Commission, the institutions collectively known as the troika from which Tsipras vowed to break free.
Austerity Canceled
“While Greece secured some ability to rewrite the terms of its current program, the sense is that the combination of pressure on its banking sector and on state cash flows has forced the bulk of concessions to come from their side,” Malcolm Barr, economist at JPMorgan Chase & Co., said in a client note. “This may place some degree of strain within Syriza itself.”
Tsipras said the deal “cancels austerity” and pledges by the previous government to cut wages, pensions and public sector employees and
The Real Battle Over Greece Still Lies Ahead
Categories: The Real Battle Over Greece Still Lies Ahead
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