MAIL ONLINE: Greek party Syriza: 'Deal shows Europe abandoning policy of austerity' / Agreement in stark contrast to deal agreed with Greeks two years ago / Spain only told to restructure its troubled banking sector / Will not be subjected to inspections by troika or strict supervision / FTSE-100 up 1.52%; CAC 40 up 2.17%; DAX up 2.18%Angry Greeks are demanding better terms on their country's bailout after Spain was handed what they see as a 'no-strings attached' €100billion cash boost.
Far-left party Syriza, which could win the re-run of the Greek elections on Sunday, said the Spanish deal 'showed Europe was abandoning its policy of austerity'.
The agreement, they said, was in stark contrast to the deal hammered out with the Greeks two years ago.
That saw the nation hit with strict rules including tight supervision and submitting to regular inspections by the troika of the European Commission, the European Central Bank and the International Monetary Fund.
Spain has only been told to restructure its trouble financial sector - currently lumbered with billions of euros worth of bad loans by the bursting of the Spanish property bubble.
Party leader Alexis Tsipras, Greece's possible next Prime Minister, told Avgi newspaper: 'Developments in Spain have confirmed the position we have supported from the start.
'Namely, that the crisis is a Europe-wide problem and that the way it has been dealt with so far is socially destructive and completely ineffective.
'Two years ago the crisis was related to the supposed laziness and unproductiveness of the Greeks.
'After two years of failure of the bailout memorandum, there is a dramatic increase in the voices calling for a policy change so as not to crash the whole European economy.'
Greek politicians have also said that the Spanish deal will give them room to renegotiate their deal to include less austerity measures. Read on and comment » | Daily Mail Reporter | Monday, June 11, 2012
