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Troika suspends talks on Greek bailout until April

The EU, ECB and IMF inspectors, who have been in Greece for the last few days conducting a review of the country’s bailout program, decided to leave today and resume the negotiations in April, giving Athens time to straighten out some unresolved issues.

Even though the Troika’s overall evaluation of Greece’s efforts to implement reforms required by the bailout program was positive, some moot points remain, such as job reductions in the civil service sector or the extension of the emergency property tax imposed in 2011.

Nevertheless, Greek Finance Minister Yannis Stournaras believes that an agreement is attainable and the 2.8 billion euro tranche is sure to be released. “There has been significant progress in the talks with the Troika,” he said assuring that “there is no issue with the loan tranche.”

European leaders loosen noose on embattled Southern European countries

European leaders are embarking off a previous hardline stance, in essence loosening the economic shackles once demanded by Germany as the recession lingers and unemployment mounts across southern Europe. In an effort to relinquish the debt crisis – without a doubt the euro area’s biggest headache – European leaders will look to find common ground to foster a joint resolution that will improve the plights of several indebted countries and their constituent populations.
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