Greece Exits its Bailout but Remains Shackled by Debt and Austerity
NOVANEWS
Former Greek MP Costas Lapavitsas says Greece has been reduced to a ‘weak and marginal Balkan economy’
Story Transcript
DIMITRI LASCARIS: This is Dimitri Lascaris, reporting from Montreal, Canada.
Yesterday, the eurozone and the Syriza-led government of Greece’s Prime Minister Alexis Tsipras announced with much fanfare that Greece had finally exited its bailout. The bailout amounted to 289 billion euros over an eight-year period commencing in 2010. The bailout has left Greece with a crushing debt amounting to approximately 180 percent of GDP. Moreover, and as The Real News has previously reported, the bailout loans were conditional upon the Greek government imposing extraordinarily onerous conditions of austerity on the Greek people...