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While Germany is reportedly looking at how Greece can leave the euro, the country itself is...

While Germany is reportedly looking at how Greece can leave the euro, the country itself is doing its best to convince everyone that it can be saved, with the cabinet yesterday approving the latest austerity measures demanded by the Troika. All eyes are now on tomorrow's meeting of eurozone finmins.
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  • bob adamson
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    The atmosphere in anticipation of the Monday meeting of the Euro zone finance ministers to decide on the Greek support package conditions is improving and clearing. The remaining concerns going into the weekend was whether a deadlock on German policy had arisen between Chancellor Markel and Finance Minister Schäuble who appeared to be taking a hard line supported by his Netherlands colleague. As the following articles indicate, whatever differences that may have existed have been resolved in favour of the more accommodating position of Chancellor Markel. The Greek Government, for its part, appears ready to proceed in reasonable conformity with the wishes of the Euro zone finance ministers.






    Assuming that both the bailout by the EU, IMF and ECB and the haircut by Greece’s private sector creditors now proceed in quick order, the challenge will be to see whether new measures to promote economic and fiscal reform and growth in Greece and the other stressed EU member States will emerge in a sufficient and timely manner as deep austerity alone will fail in the mid to longer run.
    19 Feb 2012, 04:36 PM Reply Like
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