25.05.2016 - 18:12 [ Keep Talking Greece ]

Eurogroup on Greece: a carrot for a bunch of sticks

The marathon negotiations in Brussels ended at 3 o’ clock in the morning. The Eurogroup finance ministers but in fact Germany and the International Monetary Fund agreed to give a carrot to Greece yet keep waving a bunch of sticks for as long as it takes. At first stage, lenders will pour so much money to Greece, just enough to fulfill its obligations towards the lenders and a small leftover so that the state will pay its arrears to private sector. At the same time they will focus on the implementation of the ‘prior actions’ and have assigned Greece with new tasks, like correcting austerity legislation – correcting to the worse, of course.