The European Commission may hail the “Greek progress” in its April 2014 review of the second Economic Adjustment Programme for Greece. The EC may hail the primary surplus and the structural reforms. However at the same time it stresses the need for additional austerity measures totaling 7.7 billion euro for the years 2-15-2017.
Although the EC does not specify the austerity measures, the EC states the additional austerity needs as:
€2 billion for 2015
€3.8 billion for 2016
€1.9 billion for 2017
The European Commission makes also a weird reference to “vested interests” blocking the progress.
I don’t know, who the European Commission has in mind when it refers to “vested interests”, neither do I understand the word “progress”. On the other hand I wouldn’t even worry for the extra 7.7-billion-euro austerity.
I am broke and I have nothing to offer, to give, to contribute or donate.
EC fourth Review April 2014 Summary here.
PS Alexis Tsipras (SYRIZA) may be right, after all, when he claims that new austerity measures are on the way. How could the European Commission trip up PM Samaras so short before the elections?
