A painful deal for Greece

Greece has signed up to the sort of demands its government has campaigned against.

15-7-16-Tsipras-634

Alexis Tsipras signs up to all he railed against

Early this week European policymakers announced a third bailout package for Greece. The stricken state will receive up to €86bn in return for a wide range of reforms, including pension cuts, an increase in VAT, and deregulating various markets. A privatisation fund under international supervision is supposed to raise €50bn in three years in order to recapitalise the banks, pay down debt and reinvest in the economy.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.