Spanish Left Wing Calls Greek Deal Unsustainable

Spain’s left-wing party Podemos has criticized the Greek bailout deal struck by the country’s Syriza government, calling it “unsustainable.”

Podemos Economy Spokesperson Nacho Alvarez told CNBC on Wednesday that the reforms-for-aid deal will maintain the exact austerity policies that got Greece into trouble in the first place.

“This agreement was not designed to solve the economic problems (of Greece),” Alvarez told “Worldwide Exchange.” “It’s not a good agreement.”

The comments come as Greek lawmakers vote on a set of swingeing austerity and reform measures, insisted upon by creditors for Greece to get a much-needed third bailout.

Prime Minister Alexis Tsipras could face a revolt from inside his own party, however, amid discontent over the austerity measures both at home — and now abroad.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza