Austerity and privatizations. For the time being, the Eurogroup and the IMF gave the country a breath of fresh air, accepting to release the next bracket of the subsidy program (€12bn) in early July. However, in return, the creditors want the Greek government to implement a drastic austerity course. While acknowledging the great progress made by Greece, they are maintaining pressure to quicken structural reforms. The new austerity program plans to save another €6.4bn this year and €22bn by 2015. A new, clear privatization schedule (telecom, water, harbors, airports, railway, postal banking, lottery, casinos…) was published and an “independent” agency is going to be set up to sell these assets as quickly as possible.
m (€12bn) in early July. However, in return, the creditors want the Greek government to implement a drastic austerity course. While acknowledging the great progress made by Greece, they are maintaining pressure to quicken structural reforms. The new austerity program plans to save another €6.4bn this year and €22bn by 2015. A new, clear privatization schedule (telecom, water, harbors, airports, railway, postal banking, lottery, casinos…) was published and an “independent” agency is going to
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