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The mission statement acknowledged that the recession in Greece will be deeper than expected (Photo: John D. Carnessiotis, Athens, Greece)

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...

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The mission statement acknowledged that the recession in Greece will be deeper than expected (Photo: John D. Carnessiotis, Athens, Greece)

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