Poor Greece still in the sh*t. From the Guardian's live business feed:
Moving over to Greece now, where the main opposition leader says the government is deliberately drawing out negotiations with creditors and preparing the country for a fourth bailout.
From Athens our correspondent Helena Smith reports:
Seven years after it was granted its first emergency loan programme, Greece is being prepared for a fourth bailout, says Kyriakos Mitsotakis, who heads the main opposition centre right New Democracy party.
In a wide ranging interview aired on Ant 1 TV on Wednesday night, the politician said prime minister Alexis Tsipras’ acceptance of further pension cuts and tax reforms was tantamount to a new adjustment programme that New Democracy would not be backing.
This government cannot get the country out of the impasse it is in. We will have additional measures that will reduce the tax-free threshold and reduce pensions. Mr Tsipras is encumbering citizens with the bill. He is not moving ahead with reforms. He can’t create jobs or attract investments. In essence he is bringing a fourth bailout through the backdoor.
Mitsotakis, who held talks in Berlin with the German chancellor Angela Merkel recently, said the leftist government was deliberately delaying bailout talks with creditors.
The [second bailout] review should have been concluded a year ago. The government is consciously delaying [it] for reasons of domestic consumption. There is a big danger that entry into the [ECB’s] quantitative easing [programme] will be missed.
The spectre of yet more cuts has caused rising alarm in Greece with pensioners taking to the streets. It comes as the Cologne Institute for Economic research says poverty in Greece has shot up by 40 % between 2008 and 2015.
“Greece is the big loser,” the think tank said in its latest study on the European economy, pointing out that the increase was the biggest among EU member states.
And this re: Italy - read the last paragraph, 40% youth unemployment....so sad.
blogs.spectator.co.uk/2017/03/berlusconi-back-eurozone-idea-isnt-completely-barmy/