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World Economy

No Strings Attached

Greece’s new leftist-led government, isolated in the eurozone and under pressure from the European Central Bank, said it wanted no more bailout money with strings attached from the European Union and International Monetary Fund, Reuters said. Instead, a government official said, it wanted authority from the eurozone to issue more short-term debt, and to receive profits that the European Central Bank and other central banks have gained from holding Greek bonds. The official said Greece was in effect asking for a “bridge agreement” to keep state finances running until Athens can present a new debt and reform program, “not a new bailout, with terms, inspection visits, etc.”.

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