Creditors take another look at Greek economy

(Vatican Radio) A team from Greece’s creditors arrives in Athens Tuesday to take another look at the country’s finances, to see how many reforms are in place, and whether to release 2 billion euros in bailout aid.

Listen to John Carr’s report:

The team used to be called the Troika, but since the spring it has been the Quartet – that is, one official each from the International Monetary Fund, European Central Bank, European Commission and the European Fiscal Stability Mechanism.  And they arrive at a time when the Greeks have been told there’s more economic pain on the way.

This month the leftwing-led government of Prime Minister Alexis Tsipras pushed through the Parliament a truckload of austerity measures that hit pensioners and homeowners the hardest.  Greece’s television channels echo with loud criticism of what’s to come, but so far no-one has come up with a credible alternative.

Tsipras has indicated he’s willing to work with the Quartet, but also says he wants to ease some of the burden on those, for example, who owe mortgage payments and back taxes, and have little to pay them with.  It remains to be seen whether the Quartet of creditors will listen.