Tough road for Greece after bailout extension

[WorldNews]

View attachment 18041​

The hard work for Greece's new anti-austerity government began Wednesday after it secured an extension to its lifeline financial bailout with promises to implement ambitious reforms and stick to its financial commitments. First though a number of parliaments in the 19-nation eurozone, not least Greece's and sceptical powerhouse Germany, need to approve the four-month breathing space greenlighted by finance ministers on Tuesday. Greece's new programme aims to tackle tax evasion and corruption and save money with an efficiency drive throughout government including eliminating politicians' perks and slashing red tape. Already on Tuesday the plans received a cool response from the European Central Bank and the International Monetary Fund, which together with the European Commission hold the lion's share of Greece's 320 billion euros in debts.

Continue reading...