Saturday 18 August 2018

Greece: Eurozone bailout programme finally over



From BBC News, Andrew Walker

"The eurozone passes an important milestone on 20 August. The date marks the formal end of the bailout of Greece..,The last payment has been made and the Greek government will have to finance its spending through taxes or by borrowing in the financial markets, though it will be decades before it is all repaid".


Greece warns Brussels: No Brexit deal could trigger economic meltdown, KTG


Η πραγματικότητα παραμένει δύσκολη - Δεν έχει έρθει το τέλος των μεταρρυθμίσεων. Kathimerini


A sad assessme, eKathimerini


Shadows loom over government’s ‘clean exit’ scenario, eKathimerini


Greece Meeting with Lenders Sept. 10 for Post-Bailout Talks, Greek Reporter


A Controversial Viewpoint, The Telegraph: "Greece will not escape debt servitude until the euro is destroyed"




Greece’s eight-year odyssey shows the flaws of the EU, Charlemagne, The Economist

"Greece created its own problems, but was largely a bystander while “solutions” were imposed by others. The rules of its bail-outs reflected the installation-by-stealth of austerity as official euro-zone dogma. And it was the victim of bad policy as well as power politics. Other governments regularly promised Greece jam tomorrow in exchange for hardship today. But projections for its recovery consistently proved wildly optimistic, as the austerity visited on the country, wholly predictably, deepened its recession and made its debts ever more unpayable. It was the most ruinous way imaginable to make a point. Now Greece, left with threadbare public services, eye-watering tax rates, weak institutions and appalling demographics, is supposed to run large primary surpluses (ie, before interest payments) for the next four decades. This is magical thinking masquerading as policy. Too often in today’s Europe, acute problems are not dissolved by silvery diplomats but rather transformed into chronic ailments that remain bearable, until they are not... One lesson, then, of Greece’s crisis is that the single currency is harder to fracture than critics predicted. Another is that the EU will go to considerable lengths, including the impoverishment of its own members, to avoid taking hard decisions".


A Greek tragedy: how much can one nation take? Financial Times




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