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Anti bankruptcy plan including measures against expenditures, reforms

19 June 2011 / 19:06:30  GRReporter
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In the negative findings of the report revealing that the implementation of the memorandum "was left in half" and this has led to the failure of the first hard effort is also emphasized: "Greece will not be able to return to the markets in 2012. The funding program that was settled a year ago, is a "distant scenario."

The cost of funding by the markets remain prohibitive. Interest rates will remain high for several more quarters. Skepticism of the markets is associated with the doubts regarding the ability and the attitude of the Greek government and society to continue with the fiscal consolidation and the restoring of the competitiveness."

In addition, the Troika stressed that "Greece's financing should be reviewed. The existin program is currently funded inadequately. The next installment may not be paid prior to solving the problem with underfunding ", referring practically to the lack of a political decision to support the Greek economy by 2014.

Tags: Troika report structural reforms foreign debt medium term program
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