Troika checks on Greece again

Inspectors from the European Union, International Monetary Fund and the European Central Bank are again in Athens for talks with government officials.

The inspection visit is in preparation for a new 130-billion euro bailout plan and bond swap scheme to keep the country from going bankrupt.

The so-called Troika has warned Greece must step up reform efforts if it is to keep getting aid.

Greece narrowly averted bankruptcy this month after foreign lenders agreed to release an eight billion euro installment of aid, but remains at risk of ending the year with a deeper-than-expected hole in its finances as a recession means tax revenue is even less than expected.

Greece’s new coalition government faces a tough winter as it seeks to implement the reforms needed to secure vital EU/IMF bailout funds, while facing public anger at the pain inflicted by wage cuts and tax hikes.

A protracted recession, record-high unemployment and the growing crisis in the whole euro zone further complicate efforts to put Greece back on track.

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