German press: Greece to remain under surveillance until 2059

German media do not share the optimistic estimate of Greek PM Alexis Tsipras for 2018, as exemplified in his speech at the cabinet meeting on Monday.

Berliner Morgenpost underlines that the road is still long for Greece, noting that Greece will remain under the supervision of lenders until 2059, according to current estimates.

"Tsipras is preparing a new package of reforms with curtailing measures", is the title of the article. "With the new year, Greece enters the final stretch: within a week, the government has to pass a parliamentary bill that includes extra cuts and reforms. (...) In brief, the government seeks to minimize public debate. Because the omni-bill includes a series of controversial measures. The most controversial provision concerns changes to the right to strike. In the future, labor struggles will only take place when an absolute majority is reached in the general assembly of trade unions by direct vote," Deutsche Welle noted.

The author of the report points out that the road is still long: "Greece is still far from the target. The rating agencies continue to classify Greek bonds in the "junk" category. Depending on the agency, ratings range from five to seven rungs below the investment grade. The country must therefore regain investor confidence even more. In the meantime, Greece will remain under the supervision of creditors until it repays the last loan. According to current calculations this will last until 2059," he stresses.

Handelsblatt also reports on the reforms for strikes. "The new measures particularly affect the voters of the left-wing SYRIZA party by Alexis Tsipras," saying that in addition to changes in the workplace "there are additional arrangements for "red loans," which borrowers are delaying to repay, and the confiscation of property from debtors who do not respond."

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Source: newgreektv.com