The parliaments of the Eurozone countries agreed upon the third help program for Greece. The money for the country in crisis has already started flowing. However, the reforms plan seems impossible to introduce and bringing it to life would be a miracle. Why? Marcin Lipka, Cinkciarz.pl analyst, weighed in on the matter.
In the middle of July, during the eurozone summit in Brussels, the plan for the third help program for Greece was agreed upon. It is worth 86 billion euros. A quite ambitious plan for reforms was specifically designed at this time for Athens to introduce in order to receive the first installment and further financial support in the quarters to come.
The paragraphs describing a profound reform of the pension system, public administration, legal, goods market and taxation systems were especially drawing attention. Greece also needs to privatize 50 billion euros worth of state property. This money will be used as recapitalization of the banks, repayment of the county’s debts and further investments.