Greek debt crisis may reappear with revived force unless the government, headed by its Prime Minister Alexis Tsipras, achieves an agreement with EU creditors in the next three weeks.
While the ruling two-party coalition celebrates two years in office, the prime minister faces the dilemma of implementing further austerity mechanisms or calling new elections in the country, since the application of severe cuts on social spending has dramatically decreased government’s support.
Moreover, further uncertainty has spread in Greece as the International Monetary Fund (IMF) has warned that national debt load could emerge as “explosive” by the year 2030. The IMF has concluded that additional pension cuts and tax increases will be fundamentally needed to achieve a primary budget surplus.
All in all, the country’s economic future appears to be tragic. It definitely seems that even if reforms are truly implemented and followed, Greek debt load will pose a serious problem for the following decades.
The air raid on Saturday, which hit a funeral with thousands of mourners in Yemen’s rebel-held capital, Sana’a, killed 140 and left 525 people wounded. It was one of the deadliest attacks of the country’s civil war since the Saudi-led coalition started a campaign of airstrikes against the Houthi-Saleh alliance in March 2015.
The conflict in the country broke out in 2014 when rebels known as the Houthis took the capital by force and sent the government into exile. The Houthis are allied with army units loyal to a former president, Ali Abdullah Saleh, and they have been struggling for control of the country against groups that are loyal to the current president, Abdu Rabbu Mansour Hadi, who is supported by Saudi Arabia and its Persian Gulf allies.
The airstrikes on Saturday came after a period of escalation since August, when the last round of peace talks definitely broke down. The last attack seems to impede any return to talks aimed at ending the conflict, while stimulating support in northern Yemen for military escalation against Saudi Arabia. Instability and uncertainty rule the country at the moment.
The attack has been condemned by the UN, the European Union and the United States. The US, like the UK and other European countries, supplies arms to Saudi Arabia and practical military advice. After the last attack’s repercussion, the White House issued a statement affirming that it had begun an “immediate review” of its support for Saudi Arabia in Yemen “to better align with U.S. principles, values and interests”.