Those Molotov cocktail-wielding protesters who took to the streets of Athens on Wednesday are not going to like this.
On Friday, the Wall Street Journal — citing an unnamed “senior government official” — reported the European Union is “pushing Greece to urgently adopt new austerity measures amounting to an extra €4 billion”.
Those additional measures, according to the anonymous official, are necessary if Greece “is to achieve its goal of slashing its staggering budget deficit by four percentage points this year”.
Greece is expected to announce an austerity package with cuts amounting to around €2bn-€2.5bn – and that’s already been poorly received at home.
We expect further whispers (and comments…) complaining the the EU and the evil Anglo-Saxon media are out to get them, etc.
Related links:
Greece Delays Bond Sale Amid New Turmoil Delays – WSJ
German Banks Turn Their Backs on Greek Bonds – Spiegel Online
ECB keeps lid on Greek bond data – Gillian Tett /FT
The market’s Achilles heel – John Authers / Short View