"For too long they [troika officials] refused to accept that the programme was simply off-target by hiding behind our failure to implement structural reforms," said one insider.
This unique arrangement will be tested soon as the reforms begin to bite, and the outcome could have important and lasting consequences for efforts to implement structural reforms elsewhere around the world.
QUESTION FROM ALEC MALLY: Read your article, but it seems to me you gloss over the failure of the Greek side to implement structural reforms in any meaningful way.
If Australia and other developed economies are going to overcome the economic headwinds of secular stagnation and rising inequality, there is an ongoing imperative to implement structural reforms which drive productivity growth and fairly share its benefits.
They'll be encouraged to reshape their economies, open up their labour markets, and implement structural reforms, but the underlying message will be that the pace of fiscal consolidation can be slowed.
The ruling African National Congress demanded Sparrow's prosecution, while the opposition Economic Freedom Fighters party, whose leader, Julius Malema, has advocated nationalising mines and radical redistribution of wealth, said the row reflected a failure to implement structural reforms in post-apartheid South Africa.
