1. Home
  2. Press
  3. IW News
  4. Five lost months: three gained years
Show image in lightbox three gained years
(© Photo: anastasios71 - Fotolia)
Share this article:

or copy the following link:

The link was added to your clipboard!

Greece IW News 13. July 2015

Five lost months: three gained years

The difficult talks on a further bail-out package for Greece seem to have come to an agreement: the impending Grexit finally became an agreekment. At least for the three coming years, Greece will stay in the Eurozone.

Share this article:

or copy the following link:

The link was added to your clipboard!

A compromise was worked out based on the reform program submitted by the Greek government last Friday. It became apparent that president Tsipras and his government also acknowledge cleaning up the state budget and strengthening competitiveness to constitute the crisis policy’s key principles. Ultimately, Greece has to be held responsible for the escalation of the current crisis at the last-minute summits during the past weeks. The Greek negotiators left five months idle that could have been used for a more constructive result.

The discussed three-year-reform package amounts to 86 billion Euro with first reforms to be implemented by the upcoming Wednesday. This is necessary in order to rebuild the trust that the Greek government gambled away during the past months. One of the program’s key points is the constitution of a trust fund aiming at an acceleration of the state asset’s privatization. The major advantage of such a fund is that revenues do not fall flat in the state budget but are channeled precisely for the bank’s recapitalization and investments.

This compromise is reasonable and contains a specifically defined framework for the coming years. In addition, it represents a more practical alternative than the proposed temporary Grexit. In order for the conflict not to erupt again unnecessarily, both sides of the European community must revert to treating each other with respect.

Share this article:

or copy the following link:

The link was added to your clipboard!

More on the topic

Read the article
The framework companies really need for data sharing
Vera Demary IW-Policy Paper No. 2 16. May 2022

The Data Act: The framework companies really need for data sharing

On February 23, 2022, the European Commission presented a proposal for the Data Act. This regulation is intended to regulate access to and use of data in the European Union in the future.

IW

Read the article
Sandra Parthie Event 31. March 2022

Zukunftsweisend oder wettbewerbsbehindernd?: Das neue EU-Lieferkettengesetz unter der Lupe

Am 23. Februar 2022 hat die Europäische Kommission ihren lang erwarteten Entwurf für eine Richtlinie über die Sorgfaltspflichten von Unternehmen im Bereich der Nachhaltigkeit, weitläufig bekannt als EU-Lieferkettengesetz, vorgestellt, der darauf abzielt, den ...

IW

More about this topic

Content element with id 8880 Content element with id 9713