TROUBLED Greece will buckle under the weight of its huge debts, which are highly unsustainable over the longer term, according to damning analysis of the eurozone’s bailout by the International Monetary Fund (IMF).

Austerity measures and biting reforms pushed on Athens by its neighbouring creditors are taking a heavy toll on the country, combined with high poverty and unemployment, said the Washington-based fund.

Public debt is predicted to reach an eye-watering 181 per cent of GDP this year, amid fears the country’s fragile situation could again spiral into crisis seen over the summer of 2015.

But Greece’s biggest creditor Germany is against writing off money owed, until the country meets its the terms of its current bailout agreement.

Read more

Our 4th of July Super Sale has been extended! Get double Patriot Points and free shipping on the hottest items!


Related Articles