The Economist: The Troika is Coming and Asking for Further Spending Cuts



    The Economist magazine reported on troika’s upcoming return to Greece. Entitled ‘The Troika is Coming: Greece’s new government is scrambling to find more spending cuts,” the editor comments that “Greece tried but failed to find €11.5 billion of spending cuts demanded by the EU and IMF as part of the country’s second international bail-out.”

    “Greek ministers trimmed their budgets but didn’t realize they needed to be slashed,” continued the report.

    According to the magazinethe three governing parties, New Democracy, PASOK and Democratic Left, face now a difficult situation. They failed to raise the money needed by the bailout agreement and thus, they will soon have to apologize to their voters for their ineffective decisions.

    The same report adds that the Greek Orthodox Church will also be told to limit the wage costs for priests by half, “despite earlier reassurances that the state would continue to foot the entire bill.”

    The editor concludes that the moment of truth for Mr Stournaras comes on July 26th, when he will meet the troika officials to present the package of cuts. If they are not pleased with what Mr Stournaras brings, they may suggest their own measures.


    2 COMMENTS

    1. Time for the Greek Resistance, la Resistence Grecque.  Who shall head it? Who shall obey it? Minds disrupted by 500 years of hate domination, is not capable even to save itself.  Look at the U.S.  In a movie theater, one – and only one – individual alone attacks dozens and dozens of very healthy and strong men, very strong and healthy women, and they all go out in panic, screaming, crying, and not even one of them had the sanity of attacking, or leading others to attack the only one terrorist that was there killing them all.  I can’t believe this!   

    2. Ummmm…….

      The man who opened fire in the theatre had GUNS. 

      The economic mess Greece is in was mostly caused by Greeks. Nevertheless, the Greek Resistance is alive and well. They got together and stole the money from those who lent it to them. 

      Sadly and more important news,………II went to the butcher and he told me that a lot of cows are missing their brains.