Eurozone Primary Balance Improving With Austerity Measures

Eurozone Primary Balance Improving With Austerity Measures


Quotes from Societe Generale Cross Asset Research:
-Peripheral countries are suffering from austerity measures,but in some cases like Italy the results are encouraging, as the country now has a primary surplus. However, for Spain,the root of its economic turmoil lies in property, with no apparent solution in sight, although the eurozone seems ready to act to help Spain.
-For Greece, there is a high risk that the country will fail to meet the Troika's demand to implement the new austerity plan of €11.5bn, which was agreed upon by the Greek coalition last week. Even though it will be a political decision, the Troika's approval to get fresh money worth €31.5bn in August must not be taken forgranted.



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