The Eurogroup meeting on 24 May finalised the surrender of the erstwhile radicals of SYRIZA to the Commission and the IMF. The deal takes Greece further down the path of its own demise.
Briefly, the Eurogroup decided to release 10.3bn of bailout funds to Greece in two tranches, …
Unprincipled politicking. Greece, the IMF and the Troika
By Costas Lapavitsas and Daniel Munevar
The bailout has already failed
The latest political upheaval in Greece cause by the Wikileaks transcript could be explained only with one vital precondition. That is, Greece cannot meet the terms of the third bailout agreement struck in July 2015. …
The never-ending Greek disaster
Costas Lapavitsas
It is now eight years since Greece went into recession and six since it adopted a bailout strategy engineered by the IMF, the EU and the ECB. The SYRIZA government, elected in January 2015 with great hopes of rejecting austerity, …
The IMF is currently praising Cyprus for its efficiency in pursuing the Troika’s stabilisation programme, at least with respect to public finance. It appears that the Cypriot government will deliver on the target of 7% fiscal adjustment over 2013-14. It has even been announced that the primary deficit for 2014 will be 3% of GDP instead of the IMF projected 4.25%. …
