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Greece in trouble again (Relevant for GS Prelims and GS Mains Paper II,III)

The country is struggling to meet bailout conditions. The future of Greece’s €86 billion bailout the third since the 2010 debt crisis is uncertain in the absence of crucial backing from the International Monetary Fund (IMF), and with three European Union (EU) member states going to polls this year.

What is the issue now?
Greece has to repay a loan instalment by July in order to avail the next part of the rescue funds under the terms of the 2015 deal.

For that, the Greek government has to satisfy the demands of both the creditors of the eurozone and the IMF. But there is uncertainty about the outcome and Greece is unwilling to adopt more austerity measuresthan what was agreed in the bailout.



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