Greece to get bailout funds next month

Incredibly, after two bailouts it appears that it won't be enough. And the EU has to decide whether to keep bailing them out or try and insulate themselves from the fallout of a Greek default. The Greek government didn't even come close to fulfilling the terms of their bailout. Reuters: After a weeks-long review of the country's finances, inspectors from the European Union, IMF and European Central Bank said an 8 billion euros loan tranche should be paid in early November. But they warned Greece had made only patchy progress in meeting the terms of a bailout agreed in May last year. "The success of the program continues to depend on mobilizing adequate financing from private sector involvement and the official sector," the troika said in a statement. It said additional measures were likely to be needed to meet debt targets in 2013 and 2014 and a privatization drive and structural reforms were falling short. Decisive implementation of existing plans should allow next year's debt goals...(Read Full Post)