FINANCIAL TIMES: ….The latest demands include dozens of “prior actions” that Greece must deliver as a condition of the rescue – from sacking underperforming tax collectors to passing legislation to liberalise the country’s closed professions, tightening rules against bribery and readying at least two large state-controlled companies for sale by June.
Greece will have just nine days to complete those and a slew of other unpopular measures to lay claim to the money and avoid a disorderly default next month that could force the country out of the single currency and trigger turmoil across the eurozone…
Andrew Balls, head of European portfolio management at Pimco, one of the world’s largest bond investors, said: “It is all an exercise in make-believe. Does anybody really believe any of the Greek debt sustainability numbers?” … (more)
