Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

Déjà vu, Greek style: gets cash despite missed targets.

Tuesday, July 09, 2013 - 02:06

July 9 - Greece secured €6.8 bln of aid this week, despite missing some of its key targets agreed with international lenders. So, more of the same? Maybe, but the Troika’s patience may be wearing thin.

▲ Hide Transcript

View Transcript

It's time to step up for the moment to -- reform increase or. Report took the return of confidence -- with -- for sustainable growth and they're so Prius. That was EU commissioner all the Iran after the EU and IMF disposed another six point eight billion euros of aid to Greece. But this is what -- and say that the November last year. It's trying to debunk the perception that no progress has been made this perception is damaging it's unfair and that simply wrong. So which is it looking at the -- numbers this is not meeting targets let's start with privatize -- and the initial target two years ago was today's fifty billion euros by 2016. That's since been revised down to less than nine billion. The latest target of two point six billion euros of asset sales by the end of this year. Will be missed by at least one billion after the failed sale of the national gas company. Public sector job cuts. International lenders have demanded that 25000. State employees be placed in a so called mobility scheme with a could end up being filed. -- mr. -- target for 121500. To be placed in the scheme and was given more time until September. The 25000. Overall target still stands. So if Greece is failing to live up to its site of the deal why did international lenders agree to stump up more cash. Well Athens has two and a half billion euros of bond redemptions coming June and August freeing up money known avoids a potentially messy default. Then there's the small -- of the German general election in September. The folk can be messy for markets and that's the last thing chancellor Angola medical once just before she has to convince -- those. But Jimmie isn't throwing good money after about trying to keep peace in the Euro. But the aid payments this tying up being staggered suggesting the EU and I'm expeditions with Athens is winning -- If what you again after September. He might get a different outcome. -- -- for Reuters.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Déjà vu, Greek style: gets cash despite missed targets.

Tuesday, July 09, 2013 - 02:06