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Monday, April 13, 2015

The Greek Taxi Driver

Frankfurter Allgemeine Sonntagszeitung (FAS) reported over the weekend that euro zone officials were "shocked" at Greece's failure to outline detailed structural reforms and its demands for cash at talks in Brussels last week. According to FAS, the sources said Greece's representative asked where the money was "like a taxi driver" and insisted his country would soon be bankrupt.

Suffice to say Greece's finance ministry has dismissed the report, saying it was inaccurate and undermined ongoing negotiations.

Irrespective of the accuracy or otherwise of the tax driver comment, Greece has yet to come up with a coherent, viable and auditable reform plan. Hence, it is certain that the euro group is feeling very frustrated at the delays.

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