Published On: Tue, May 23rd, 2017

Greece-EU talk fails; Athens unlikely to get fresh bailout fund

Greece, the debt-ridden European nation, has failed to achieve a new bailout fund as its talk with the European Union finance ministers have not succeeded. It is learned that the European Union, which has been helping the country to recover from their debt-ridden state since its economy suffered a severe crisis, is not happy with the measures taken by the country in order to bring the economy under control. As this money is very import for the country, many see the latest development as pressure tactics. Experts say that the European Union wants Greece to implement certain harsh economic reforms, which is not likely to get the support of the Greece citizens. It is learned that even if the formal meeting between the two parties has failed, the informal meeting is still continuing. Experts say that the two parties might reach an agreement before the next formal meeting which is scheduled to take place in July. Even though Greece has no other option, but to agree to the terms and conditions unilaterally created by the EU, it is not good to surrender the economic sovereignty of an independent nation before some international agencies which pay no heed to the theory of economic independence. It is good to remember that some other EU countries are also vulnerable to similar situations as their economy is gradually declining due to the shrinking employable population, industries and resources and raising social security and capital requirements.

Vignesh

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Greece-EU talk fails; Athens unlikely to get fresh bailout fund