Greek Economy Risking a New Recession
This is the last thing Alexis Tsipras needs. The prime minister is scrambling to pay his country’s debts to the IMF this week while negotiating with eurozone officials for bailout funding. But analysts say Greece may be slipping back into recession, thanks to limited government spending and political uncertainty. Such a downturn may lead to even higher taxes and further spending cuts. But Germany hopes Athens can stay afloat until July, when it’ll need a bailout to pay $3.8 billion to the European Central Bank — or face default.