Comment in Press TV News in Brief program on the conclusion of the 2nd review of the Greek Adjustment Program and its inability to solve the Greek crisis
The technical agreement (SLA) between the troika of Greece’s lenders (IMF-EU-ECB) – because a political agreement has to follow as well – is a sham. The whole bunch of declarations by the the IMF and the EU and the SYRIZA government are pretentious and not telling the truth. The Greek economy is in shambles. It is in a terrible condition with recession reigning for the seventh consecutive year. The Adjustment Program imposed upon the country by the EU and the IMF has aggravated this situation. Each review of this program and the additional austerity measures that are being taken within this program in order to bring it back in its own tracks aggravate further the recession of the Greek economy and the poverty of the great majority of the Greek people. In these conditions a dirty game is being played between the major partners of these agreements. The EU wants to impose these agreements upon Greece but it requires the tacit agreement of the IMF (that is by the US). The US, on the other hand, fear that they throw a lot of money in the desperate Greek case and also the new Trump administration has taken a more tough line towards the EU. This was the reason for which the negotiations for this second review took too long. That is the IMF created problems. The junior partner of this deal, that is the Greek government of SYRIZA, has capitulated completely. It gives whatever the foreign lenders require so long as the new austerity measures required are not to be applied during this and the next year. But to be applied by 2019, that is after the expiration of the SYRIZA government. This means that the new government would bear the costs and the burden of the new austerity measures. In total the new agreement does not solve the Greek crisis but it aggravates it as it puts another 3.5 to 4 bn euros austerity cuts upon a very weak economy. So, the problems lay ahead.