Greek government caught in lose-lose situation
The Greek government seems to have become trapped in an “impossible” situation as its negotiations with creditors appear to be at a dead-end and huge protests against social security reform continue.
On Thursday, Greek government officials were reportedly shocked at the tough stance of the country’s creditors as all issues dominating its ongoing bailout program review remain open and the top officials representing the quadriga of Greece’s lenders are not backing down from their demands.
Essentially, the social security reform plan put forth by the government has been rejected and must be reshaped to meet the demands of the creditors. Also, Greece must take more fiscal measures this year and next to ensure it will bridge gaps, as a European Commission report released Thursday highlighted.
Following Thursday’s huge protests in Athens, Thessaloniki and other cities and the general strike which brought the entire country to a standstill, the government is under incredible pressure. Considering that Greek farmers also decided to continue their mobilizations and will not enter dialogue with the government unless its pension reform plan is withdrawn, the government now finds itself in a lose-lose situation.
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