GREECE UPDATE

GREEK UPDATE . Will they get a spoonful of sugar to help the medicine go down

The European Finance Ministers may have bought a little time and have asked the Greek government to report back to them on 16th March, without giving the market much in the way of information at all. They have requested that the Greeks come up with further details for more cuts.

Frankly it is all a bit sort of naughty schoolboy stuff and almost humiliating the Greeks into action. For sure though, there does not seem to be any appetite for bailing them out at this stage.
The problems may be that the Greek public be they farmers, students, civil servants or whatever may just not be prepared to tolerate the pain ( and humiliation). Of course the alternative if they understand it is just as bad i.e the IMF.

Watch for the reaction in Greece but right now the government seem to be caught between a rock and a hard place.
As I stated before they should never have got into the club and they all know as much.The Euro members are going to play it tough because if they do not then they know the consequences for credibility.So watch and if the Greeks will not take the medicine they are out.