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Hospodárske noviny - Eslovaquia | Viernes, 10. Febrero 2012

A brief reprieve for Athens

Greece's submission will give it a reprieve, but not for long, writes the business paper Hospodárske noviny: "The politicians in Athens had no choice but to fulfil the troika's conditions. Otherwise the country would have faced bankruptcy, which would also plunge the entire Eurozone into a storm. Greece needs the 130 billion package. The costs are enormous: high unemployment, dwindling industrial production, pension and salary cuts, spending cuts, weak economic growth, social unrest, an artificial political stability. In return, some of its debts will be waived and bankruptcy avoided. Once again time has been bought. How much remains unclear. But to judge by the experiences of the last two years it won't be very long."

» de toda la revista de prensa del Viernes, 10. Febrero 2012

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