Now the elections are out of the way the Germans can get back to sorting out how much money they need to stump up for the next Greek bailout. The Troika are back in town to assess Greece in their quarterly report. Apart from making sure that Greece are fulfilling their end of the agreement (no sniggering at the back) on Bailouts I & II, they will also be looking into the teeny weeny problem of the little financial hole that will be appearing in Greece’s accounts from 2014.
While they are there they will be happy to note that Greece is being hit with yet another 48 hour strike from public sector workers. The workers are unhappy at proposed job cuts called the “mobility scheme” by the government. According to reports, instead of being let go straight away a worker will be given 8 months to find work in another department or will then be laid off. The proposed job cuts come at a time when the powers that be continue to crow on the international stage that there is significant improvements in Greece. As usual it’s a different story on the ground for your average Greek trying to eke out a living.
Strikers and protesters are going to be marching on Syntagma square later today and more strikes are planned for next week.
EFSF’s Klaus Regling is the latest to point to the impending 3rd bailout today, but the market is pretty numb to the bottomless pit that is Greece. Unless the expected numbers start creeping up towards €50bn then there shouldn’t be too much of a reaction.
