For Greece, 2016 Brings New Challenges

In the days ahead, the Greek government will begin another round of complex negotiations with its creditors and political parties on a new phase of economic reform. At the center of the talks will be a plan to restructure the country's pension system, a particularly sensitive issue given that pensions form one of the last social safety nets left standing in a country where at least a quarter of the active population is unemployed. Though the risk of a Greek default or exit from the eurozone will be lower in 2016 than it was in 2015, the threat of social unrest and political volatility will loom large....