Greece Bailout Talks Are Syriza’s First Real Test in Power
On Friday, European finance ministers meeting in Brussels reached a deal to extend Greece’s bailout by four months. As part of the deal, Greece was given 48 hours to present a list of reforms to creditors, including measures such as cracking down on tax evasion and relaxing labor laws. This list is due to be submitted by midnight on Monday, and if creditors do not feel the reforms go far enough, the entire deal could collapse.
The tentative agreement eases some of the uncertainty that came with the victory of the radical left Syriza party in Greece’s snap election in January. As I wrote earlier this month: