Troika concludes Greek mission, warning more austerity needed in 2013

Inspectors from the so-called troika of the European Commission, the European Central Bank and the International Monetary Fund have finally completed their mission to Athens, broadly giving Greece a passing grade that will likely allow eurozone ministers and the IMF to release €8 billion in bail-out cash to the embattled republic.

The government has achieved “a major reduction in the deficit since the start of the [bail-out] programme despite a deep recession,” the troika mission on Tu...