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Rocky road to recovery as Greece concludes latest bailout deal

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Rocky road to recovery as Greece concludes latest bailout deal


Greece has secured a deal to unlock the latest bailout instalment.

The Troika agreed to grant the 2.8 billion euros loan on the condition that Athens cuts thousands of civil service jobs.

Greece was able to convince international creditors that important progress had been made on economic reforms.

Greek Finance Minister Yannis Stournaras said that “with the smooth conclusion of the agreement we can deliver a message of optimism but not to relax until Greece can re-enter the markets.” Adding that “the road is rocky.”

The news was greeted with less enthusiasm by workers who are protesting against austerity measures imposed as part of the rescue plan.

In one port a 24-hour strike was called leaving islanders stranded. Ferry workers want to fight fire with fire.

“They’ve declared war on us,” said striker Mihalis Tsaboulidis. “We should also declare war, and in the end we should win,” he continued.

The country is into its sixth year of recession which has left 27 per cent of its population unemployed. It is clear that the public have had enough of bailout imposed austerity.

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