Greece’s debt crisis has wiped out 37 per cent of household incomes and left it with the highest unemployment rate in Europe ANGELOS TZORTZINIS/AFP/Getty ImagesGreece is in trouble again, and failure to rein in its explosive debt and wrap up a key bailout review with creditors soon could push the country out of the euro, leading economists and the International Monetary Fund warn. The threat caps another failed bid by Greece and its creditors to resolve differences over a deadlocked review of Athens’s third bailout package of as much as €86 billion. At the heart of the dispute is Athens’s refusal to legislate added austerity demands by creditors, seven years into a crisis that has wiped out 37 per cent of household incomes and one in three businesses, leaving 1.2 million Greeks unemployed, the highest rate in Europe. Creditors want pensions trimmed again and added taxes imposed.

Source: The Times January 30, 2017 00:08 UTC