Wednesday, April 1, 2015
The left-right Greek coalition of Syriza and Independent Greeks took office late in January committed to ending the rigours of the country's bailout programme. However, euro-area partners made it clear that, unless fiscal and structural reforms continued, no further financing would be forthcoming. The government could run out of cash in April, and has produced a fiscal reform package worth a net 3.8 billion euros (4.1 billion dollars). Eurogroup finance ministers still need to approve it, but the package is already being criticised for lack of structural reforms, such as changes in pension and labour law.