Financial Times
October 20, 2011
Greece should get its next €8bn in international aid, but its economic outlook is deteriorating so rapidly that a second bail-out plan agreed just three months ago is no longer adequate to keep Athens afloat, international lenders have determined.
The report by the so-called “troika” of lenders to Greece – the European Commission, International Monetary Fund, and European Central Bank – put the blame for Greece’s deteriorating fiscal outlook on both the broader recession and failures by Greek government to implement reforms.
But in the first acknowledgement that mounting unrest within Greece was having an impact on official deliberations, the report – seen by the FT – said the occasionally violent demonstrations in Athens were contributing to economic problems.
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