More than enough is too much. This statement refers to the current state of affairs in Greece’s economy. From now on, the country has to live within its means. The EU commissioners assessed the austerity policy worked out by the government and the economic reforms which must have restored the economy’s health in Greece. So, European policymakers denied the Greeks another bailout package. The eurozone finance ministers ranked Greece’s government efforts low and expressed disapproval of reforming the economy pattern. On the grounds of their assessment, they adopted a resolution to reject a tranche. It should be reminded that few weeks ago, the Eurogroup in Brussels decided to resume bankrolling funds to Greece. At that time, inspectors from lending agencies were getting upbeat figures of the reforms implementation and the economy recovery on the Balkan Peninsula. However, when Greece stated its reliance on €5 billion emergency loan, the troika of its creditors including the European Commission (EC), the International Monetary Fund (IMF), and the European Central Bank (ECB) cut off firmly their generous aid. Greece’s main financial document has been one of the major causes for the rejection. According to experts, the national budget for 2014/15 has to be adjusted taking into account the actual state of affairs. Besides, a number of vital issues have not been solved so far, such as the public property privatization, further restructuring of government institutions, and the record high unemployment rate. “Greece has a lot of work to do ahead,” Germany’s Finance Minister Wolfgang Schäuble noted in the interview. In the meantime, Athens has no choice but to wait until experts complete their next round of tests. Their report will determine the approval of another loan. So, Athens will have the third rescue package after the economic reforms assented by the EU are brought into life.
