Running out of money

Greece is at risk of an internal default, meaning that the government may be forced to pay reduced pensions and salaries, and to freeze payments in other areas.

On February 20, the government reached an agreement at the Eurogroup meeting in Brussels which ensured liquidity for the state and the banks. The problem is that growing dissent inside the SYRIZA-led administration and the inexperience of government officials have put the brakes on the enforcement of the deal and put achievements made so far at risk.

The decision to sign the agreement was not easy but it was the responsible thing to do. Enforcing it has met with strong resistance inside leftist SYRIZA but the truth is that there is no realistic alternative.

It is evident by now that there is no money for Greece outside the eurozone. Meanwhile, in order to receive that money, we must deliver on our commitments.

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