Greece's economic woes

Greece has been hit by rolling blackouts as employees at the main power utility began 48 hour rolling strikes to protest the company's privatization. The sell-off of state assets in the power company is a major step in a 50 billion euro privatization drive that must be completed by 2015.

It is part of highly unpopular austerity plans that must be passed by Parliament by the end of the month if Greece is to get the next 12 billion euro instalment of its 110 billion bailout.

Speaking about Greece’s economic predicament, Vanessa Rossi, Associate Fellow in International Economics at the UK based research institute, Chatham House says,” I think at the moment the ball is back in the Greek court, they really have to look hard at what options they want to take”.

She also told Lydia O’Kane that it would been difficult to see how the country could return to its old currency. Listen