Athens — Greece’s latest economic reforms will be key to winning debt relief that unleashes years of pent-up investment and finally ends its economic crisis. Or the austerity will crush the economy and send the government cap-in-hand for another bail-out. We will soon find out. After data this week showed the economy slipped back into recession in the first quarter, legislators on Thursday approved the latest economic measures demanded by creditors to keep the bail-out loans flowing. The danger is that if efforts to hit ambitious budget goals choke the economy so much that the target is missed in 2018, pension cuts and tax increases will tighten the noose further. "The Greek economy finds itself at a crucial crossroads," said Nikos Vettas, head of the Foundation for Economic and Industrial Research in Athens. "It’s roughly at the same level as three years ago, and while many forces that built a negative dynamic since the start of the crisis are now weaker, there is no guarantee it w...
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