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Hurdles ahead before Greece gets funding

Wednesday, November 04, 2015 - 01:32

The European Economics Commissioner, Pierre Moscovici, says bailed-out Greece is showing signs of progress in its reform efforts. But, as Hayley Platt report, there are still key issues to resolve.

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The migrant crisis - not the debt one - has been in focus in Greece in recent months. But that doesn't mean its economic problems have gone away. The European Economics Commissioner is in Athens checking up on the government's reform pledges. (SOUNDBITE) (English) EUROPEAN ECONOMICS COMMISSIONER, PIERRE MOSCOVICI, SAYING: "Progress is being made in meeting the commitments made in August, a lot of work has gone into preparing a first set of milestones, the work is still ongoing and the measures proposed by the authorities - and I was to stress that - go in the right direction." Three or four issues need to be resolved before full EU funding is guaranteed. How to find new sources of revenue is one, the impact of bad loans on banks is another. IG's Alastair McCaig (SOUNDBITE) (English) ALASTAIR MCCAIG, MARKET ANALYST, IG, SAYING: "This is not going to be something that can be sorted out in short order In fact, there are many who speculate that the longer-term picture of Greece still has been far from resolved. This is just a postponement of further troubles." Greeks remain worried - and some are angry. Sailors and port workers were the latest to strike this week in protest at pension cuts and labour reforms. (SOUNDBITE) (Greek) PRESIDENT OF MERCHANT MARINE SAILORS' UNION, SAVVAS TSIPOGLOU, SAYING: "Workers have no other option, they must fight the barbaric policies that are making things go from bad to worse." Next week the workers will be downing tools again. They're taking part in a general strike - the first since the leftist government came to power in January.

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Hurdles ahead before Greece gets funding

Wednesday, November 04, 2015 - 01:32