greece edges toward another crisis as bailout quarrel persists
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Greece edges toward another crisis as bailout quarrel persists

Egypt Today, egypt today

Egypt Today, egypt today Greece edges toward another crisis as bailout quarrel persists

Pedestrians stop to browse newspaper
Athens - Arab Today

Greece is set to miss yet another deadline for unlocking bailout funds this week, edging closer to a repeat of the 2015 drama that pushed Europe’s most indebted state to the edge of economic collapse.

Euro-area finance ministers meeting in Brussels on Monday will reiterate that the government of Alexis Tsipras has yet to comply with the terms attached to the emergency loans that have kept the country afloat since 2010. While Tsipras had promised the long delayed review of the latest bailout would be completed by March 20, a European official said last week that reaching an agreement even in April is now considered a long shot. 

The two sides are still far apart on reforms demanded by creditors in the Greek energy market and the government in Athens is resisting calls for additional pension cuts. And while discussions continue on how to overhaul the labour market, a finance ministry official said in an email to reporters on Friday that the issue can’t be solved in talks with technocrats.

Stalled bailout reviews and acrimony between successive governments and auditors representing creditor institutions are all too familiar themes in the seven-year crisis that has reduced the Greek economy by a quarter. Failure to resolve the latest standoff before the summer could mean that Greece may not be able to meet debt payments due in mid-July.

Even as Greek bonds have performed better than most of its euro-area peers this year on expectations that the government will capitulate, uncertainty has weighed on economic activity, raising the risk that an additional bailout may be needed. Unemployment rose in the last quarter of 2016, the economy unexpectedly contracted, and a bleeding of deposits from the nation’s battered lenders resumed.

"The Greek recovery is once more significantly delayed by politics,” said Nicholas Economides, a professor of economics at New York University’s Stern School of Business. "Tsipras will blink at some point in time, the question is when.”

Source :Times Of Oman

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

greece edges toward another crisis as bailout quarrel persists greece edges toward another crisis as bailout quarrel persists



GMT 09:23 2019 Friday ,30 August

Testing

GMT 17:09 2017 Friday ,29 December

At least 14 dead in Mumbai fire

GMT 13:44 2017 Thursday ,21 December

Nine-time champion Loeb set for 2018 cameo

GMT 13:08 2017 Tuesday ,26 September

Bahrain's aluminum industry thriving, manned by 12,184

GMT 08:50 2017 Sunday ,03 December

Reza Zarrab, the star witness unnerving Ankara

GMT 18:26 2018 Friday ,14 December

Mashrou’ Leila headline Apple event in Dubai

GMT 12:35 2018 Thursday ,01 November

UN chief appoints new special envoy for Syria

GMT 12:41 2016 Friday ,09 December

Blatter blasts Infantino over lack of respect

GMT 03:22 2011 Thursday ,05 May

The Leela Palace New Delhi opens

GMT 10:13 2015 Saturday ,03 January

Fashion East reveals AW15 men's presentation line-up

GMT 13:24 2017 Sunday ,13 August

Plane makes emergency landing at Cairo airport

GMT 11:06 2016 Thursday ,15 September

WADA urges Russia to stop doping hacks

GMT 14:05 2014 Thursday ,18 December

Airbnb in Amsterdam tourist tax deal, first in Europe

GMT 09:26 2016 Monday ,29 August

Egypt seeks tougher penalties

GMT 09:08 2018 Wednesday ,10 January

Federer eyes fresh 'fairytale' as Slam rivals struggle
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday