Greece Faces More Delays After Passing Austerity Budget

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By Trey Thoelcke Published
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As hard as it seems to be to believe, the crisis in Greece continues, and may have gotten worse. The nation’s parliament has voted through an extreme austerity budget that was to be the ticket to a new tranche of aid. However, Greece’s neighbors have become deeply worried, which could put off a needed loan of 5 billion euros.

The European Union may take a “wait and see” position while its experts comb over Greece’s budget and projections to look for severe shortfalls. Once again, the prospect of a Greek default has moved back into the headlines.

According to an exclusive report from CNBC, Costas Lapavitsas, professor of economics at SOAS University in London, said:

I would be amazed if Greece remained a member of the euro zone in 2013. But that is not the end of the story. Greece cannot handle the euro discipline, it needs to get out, it needs to revive its competitiveness.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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