2016-03-07theguardian.com

"Then it was a question of the political will of a few people," he said, referring to the tumultuous negotiations that paved the way to Athens receiving a third bailout in August. "Now it's a question of implementing reforms and working hard and if a government doesn't believe in them and implements them begrudgingly, progress becomes very difficult."

...

Last week, it was announced by Greece's official statistics agency, Elstat, that the debt-stricken nation had dipped back into recession.

After three emergency bailouts and the biggest debt restructuring in history, talk once again has turned to the country dropping out of the single currency.

Businessmen and bankers in private concede that as the economy disintegrates the possibility of a parallel currency is now openly being discussed. "The probability of Grexit is still there," added Hardouvelis. "It has not gone away. Just look at the yield investors are required to pay on Greek bonds."

...

Any hopes that Greece's frontline role in the refugee crisis could see creditors soften their stance were quashed ahead of the meeting on Sunday when Germany ruled out giving Athens more time to achieve budget goals. "The refugee issue and the aid program for Greece should not be mixed," a spokesman for Berlin's hardline finance minister Wolfgang Schäuble told Reuters, setting the scene for the standoff to intensify in Brussels.



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