Well what do you know? Except that it is pretty useless. Greece has been told that she will not be obliged to take even further measures for six months, to give her time to effect all the necessary reforms that remain outstanding. That is just about all of them, barring labour relations, where labour rights have already been abolished. But that is the only “reform” that has been put into affect).
Of course, the really horrendous taxation measures, which will reduce every last honest Greek to pauperdom, combined with additional slashes in pensions and public sector salaries, have already been voted in, so why the big fuss? What is so great about this hollow would be moratorium since a large spate of horrendous measures have been taken already?
Well, just another admission that all these crazy plans are expected to fail. That they all know perfectly well that all targets set will be missed. Because the only reason why any further measures would be automatically taken would be in the case when targets were missed. And our PM and his side kick of a Minister of Finances have kept reassuring that this won’t happen if….
If everything we have agreed to is carried out (like collecting over 2.5 billion more in taxation from a moribund economy in deep recession, aka depression).
And precisely because they all know very well that the targets will not be met, but nobody wants to upset little Angie in her bid to cling on to power, the six month moratorium has been expressly designed to paper over the cracks they all know will appear, till the German election is safely over.
After that? What then? Who knows? All that matters now is how to keep kicking that damned can down the bloody road! And let those going cold and hungry in Greece eat cake if they must.