European Economic Outlook Dims With Italy And Greece Facing Increased Scrutiny

European Economic Outlook Dims With Italy And Greece Facing Increased Scrutiny

by Henry Liu on July 13, 2012

(GR) Troika has found some “serious shortcomings” in Greece’s reforms – Rheinische Post Citing unnamed German govt sources that the Greek Government failed to fulfill 210 of the 300 budget savings requirements. Efforts to implement privatization this year have resulted in only two measures with a volume in the low two-digit millions of euros. Germany planning to reject Greece’s request for a 2-yr delay in its budget savings targets; will only have a maximum delay of a few weeks for implementation of its deficit targets. Follow Up: IMF Chief Lagarde: Too premature to discuss extending Greek bailout agreements. (IT) MOODY’S DOWNGRADES ...