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Will Greece get next bailout payment?

Tuesday, May 24, 2016 - 01:35

Greek government bond yields touched a six-month low ahead of a meeting of European finance ministers. As Sonia Legg reports, they're reviewing Greece's bailout and discussing the potential for a debt restructuring.

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Thousands of migrants are on the move - police clearing a key refugee camp in Greece. The crisis has been an extra burden for Athens - at a time when they can ill afford it The next tranche of bailout funds from the EU will be needed soon - and that depends on the region's finance ministers. (SOUNDBITE) (English) EUROGROUP CHAIRMAN, JEROEN DIJSSELBLOEM, SAYING: "I think the Greek government has done a lot of work, certainly since the summer and in the last couple of weeks also, pushing forward reforms, difficult measures and getting them through parliament." But Greek debts keep mounting even with reform. (SOUNDBITE) (English) FXPRO, HEAD OF RESEARCH, SIMON SMITH, SAYING: "The economy has not been growing relative to the pile of debt. From post bailout we had debt of 280 billion now it is 320 billion so debt has been rising the economy has been contracting. It's simple maths and that's no sustainable." An all too public spat between Germany and the IMF over the need for debt relief has been dominating debate in recent weeks (SOUNDBITE) (English) IHS GLOBAL INSIGHT, DIRECTOR OF SOVEREIGN RISK, JAN RANDOLPH, SAYING: "I think the Germans have always taken the view that we need a reformed economy, structural reforms are front loaded for that and obviously they have been trying, particularly pensions but also now setting up the privatisation fund. If these can actually work, now that they are implemented, then certainly they will have earned the bailout and also debt relief." But that doesn't make the reforms popular. Greek port workers will walk off the job on Thursday for 48 hours - they're angry about the sale of the country's two biggest ports - one of the conditions of the bailout.

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Will Greece get next bailout payment?

Tuesday, May 24, 2016 - 01:35