One month’s worth of funding is all this is good for. Another five ‘bailouts’ won’t make a difference. Greece is on borrowed time, literally. They will either default in orderly fashion or capitulate sovereignty in exchange to stay afloat, effectively becoming a German satellite nation.
Eurozone finance ministers have approved a new EUR130-billion bailout package for Greece. While the fund allows the country to meet debt payments next month, analysts say the threat of Greek bankruptcy remains.
“This deal is coming with very strong strings attached. Greece will now be put under very strict surveillance,” said FRANCE 24 journalist Frederic Simon by phone from Brussels. “A mechanism is being put in place to monitor each and every installment which is going to be disbursed under this new programme.”
“Effectively this means Greece is being placed under some sort of international trusteeship. This is the price that Athens has to pay to avoid bankruptcy,” Simon said.
Full article: Greece secures new bailout, but recovery still in doubt (France 24)