The hardening
positions of both Europe and Greece continue as the Finance Minister Meeting Date
comes closer. Greece will meet with EU’s financial ministers to discuss how it
would repay £544 million or €750 million worth of bailout as the country is
soon to become bankrupt.
According to IHS
Principal Economist Diego Iscaro, Greece needs to liquidate its assets as its
official funds continue to dry out. Greece’s Syriza party has had more trouble
with its international creditors than the previous leaders.
The EU is
calling on Greece to make substantial cuts to spending and reduce public sector
spending to receive further bailout support. However, Syriza had promised that
it would end austerity measures while it continues to pay pensions and
salaries.
With thousands
of public sector workers returning to their jobs, Syriza needs to make good on
its promise.
Analysts
including Chief Global Economist At Capital Economics Julian Jessop believe
that a Greek Exit is not too far away.
