Greece on the 14th large-scale auction of short-term bonds, hoping to obtain funds to meet the debt will be the arrival of the 20th expiration demand, while allowing the Government to have enough money to maintain the operation until a new round of international aid funds. However, even if the sustain to September, the Greek whether to continue to blood transfusion did not seem optimistic.
 
Greek Bureau of Statistics released this week, the latest data show that the unadjusted two-quarter gross domestic product (GDP) shrink by 6.2 percent year on year, although better than expected by the market fell 7 percent in the first quarter decline of 6.5 percent, the largest Greek creditors Germany or came or will the next phase of assistance to the Greek veto voice. Greek economy in the past 15 quarters 14 quarters have emerged in recession since mid-2008, its total economic output has accumulated evaporation as much as 18%. The debtor to impose austerity measures aimed at reducing the deficit to the country made Greece in this weak economy is facing a worse predicament.
 
The European Union in May this year, the Greek economy is expected to decline 4.7 percent in the current year, but the actual situation is far higher than expected bad. Greek Prime Minister Antonis Samaras recently announced that Greece's GDP will shrink this year by more than 7%; Greece's unemployment rate hit a record high 23.1 percent in May, the current half of the country's youth under the age of 25 did not work. unemployment rate up to 54.9 percent, more than Spain.
 
"Troika" - responsible for the inspection Greece and the European Union, the European Central Bank and International Monetary Fund (IMF) on behalf of, to return to Athens in September to assess the country's deficit reduction progress on its compliance with access to 130 billion in the third round euros in aid to submit a report. Germany, Mr Fox said that if the next month to assess the indicators do not meet the requirements of the progress that Germany would exercise its veto to prevent the payment of 31.5 billion euros in aid to Greece. Published in German in the 13th, "Business Daily" quoted the words of Vice-Chairman of the German ruling Christian Democratic Union parliamentary group, even if the Greek reform index has reached half of the country will not support the continued funding of relevant indicators is a long time ago decision.
 
In fact, German Chancellor Angela Merkel has supported the continuation of assistance to Greece, but her attitude has changed recently, analysis mainly by the pressure of political allies. Germany as the largest contributor to the Greek aid plan, so far has been Greece ? 12.7 billion in loans.



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