February 16, 2012
Will Greek government follow through with austerity program?
The coalition partners signed off on it. And the parliament approved it. But does that mean that the Greek government will actually implement the harsh austerity program they have had imposed on them by the EU? Bisiness Week: The doubts stem from growing concerns that Greece's economic problems are deepening and that the country's political leaders may not stick to the budget-cutting and reform promises they're making to receive the rescue. The concerns help explain why, after almost two years of frantic efforts to save Greece from bankruptcy, there is still wrangling over what needs to be done to secure Greece's position in the euro currency union and its economic future. Circumstances have changed since the eurozone agreed on a first euro110 billion rescue for Greece in May 2010. Some politicians -- especially in rich euro countries like Germany, the Netherlands and Finland -- have grown tired of Greece repeatedly missing budget targets and failing to implement promised ...(Read Full Post)