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WHATEVER the result of Greece’s election this month the country will be expected to comply with the mass privatisations, pay and pension cuts imposed by the most recent bailout “deal,” German Chancellor Angela Merkel said yesterday.
Ms Merkel said she also saw “no possibility” that interest rates on loans to Greece — to allow it to repay its creditors — could be reduced.
Syriza leader Alexis Tsipras has called a new election for September 20, saying he needs a stronger mandate to impose the crippling austerity measures he was initially elected to stop.
The Syriza government is now selling off Greece’s airports, docks, electricity companies and postal service, as well as huge stakes in publicly owned water suppliers.
The U-turn adopted under pressure from EU authorities has prompted 25 Syriza MPs to found the new Popular Unity party which says it will oppose such privatisations.
However, it falls short of the Communist Party of Greece’s insistence that withdrawal from the EU is a necessary precondition to ending the austerity nightmare.
