Grexit back on the agenda again as Greek economy unravels

[Eugene]

Source: The Guardian

Grexit back on the agenda again as Greek economy unravels

After three emergency bailouts and the biggest debt restructuring in history,
talk has again turned to the country dropping out of the currency union

Helena Smith in Athens
Sunday 6 March 2016 19.21 GMT

European finance ministers will once again deliberate over how to treat Greece’s ongoing debt crisis this week despite the country desperately grappling with refugees pouring across its borders.

A meeting on Monday of finance ministers from the eurozone will determine whether creditors are to be given the green light to complete a long-delayed review of Greek economic recovery plans.

The review has been held up by disagreement among lenders over how much more Athens needs to cut from public spending. It is seen as key to reviving Greece’s banking sector and restoring business and consumer confidence.

“I think the situation right now is more dangerous than it was last summer,” the former finance minister Gikas Hardouvelis told the Guardian.

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Read more: http://www.theguardian.com/business/2016/mar/06/grexit-back-on-the-agenda-economy-unravels-reforms

[Downwinder]

1. How is Iceland doing?

Know when to walk away, when to run.

[bemildred]

2. Gee, austerity just when they have all those refugees to deal with.

What a great idea.