September 05, 2016
Greek Crisis: It Ain’t Over ‘Til Angela Merkel Sings
Feeling confident about their multi-tasking abilities, the EU decided to revive the Greek Crisis so that it could solve it in tandem with Brexit, the refugee crisis and the rise of the far-right. About a year ago, the Greek government agreed to undergo a series of reforms in return for a “bailout” from the Eurozone, IMF and European Central Bank. The bailout money essentially goes right back to these three players as that’s who Greece owed money to in the first place. So far, Greece has only implemented two of the 15 promised reforms and according to German newspaper Handelsblatt, the Euro countries are pretty pissed about that. Rumor has it that they won’t be giving Greece any bailout funds promised for this year, which could bring the crisis right back to where we started. Meanwhile, while the politicians bicker and dawdle, Greece continues to suffer from a depression that’s shrunk the economy by a quarter with a youth unemployment rate above 50%.
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