Die Welt: Greece is like a rudderless ship

Greece is like a rudderless ship as the government delays implementation of the bailout program reforms, says German newspaper Die Welt.

According to the report, the negotiations with creditors that lasted for months had a catastrophic effect on Greek economy.

The first evaluation on the progress of reforms that was supposed to be completed in October looks like it will take place in the summer of 2016.

The newspaper cites European Union officials who said that “we are very far away from the first evaluation,” adding that “(the government) continues the fruitless tradition of their predecessors.”

The newspaper also cites a report by the German Embassy in Athens dated December 1 which says that, “Greece is practically not governed. The country is like a rudderless ship.” The report was completed ahead of the meeting of Eurozone finance ministers on Monday November 30.

Die Welt says that there is no progress made whatsoever on the establishment of an independent privatization fund, as Athens had agreed to as an important condition of the bailout program. Greece had committed to present a plan for the fund by October and start operations by the end of the year. No plan has been presented yet.

The delays put a hurdle in the participation of the International Monetary Fund, which expects the progress of reforms in order to decide if it will contribute financially to the third bailout program.