Troika visit next week due to be brief
Top officials from the European Commission, the European Central Bank and the International Monetary Fund are expected to spend only four days in Athens next week
Top officials from the European Commission, the European Central Bank and the International Monetary Fund are expected to spend only four days in Athens next week, when they will be briefed by the government on the measures it plans to take, before producing their report for Greece’s eurozone partners toward the end of August.
The officials from what is collectively known as the troika are due in Athens on Tuesday and are expected to leave by Friday. Finance Minister Yannis Stournaras is due to meet with the visiting representatives on Thursday, July 26, to outline the measures the coalition plans to take over the next two years to save 11.5 billion euros.
Apart from that, Stournaras is also expected to assure the troika officials that no more measures beyond the 3 billion euros of cuts set out earlier this year will be needed in 2012.
The finance minister will also attempt to convince the technocrats that cuts to so-called special salaries in the civil service, which mainly relate to those serving in the armed forces and police, will not be needed as the savings can come from other areas. Using the argument that Greece is experiencing a bigger economic contraction than expected this year, Stournaras may also argue that some measures, such as the increase on value-added tax at hotels and restaurants, need to be reversed.
Troika technical staff will remain in Athens until the end of the month and are due back in Greece a couple of weeks later to wrap up the review of the Greek program, which is expected some time after August 20 and will form the basis for discussion at the September Eurogroup meeting, when Stournaras is likely to put Greece’s case for at least an extension to the fiscal adjustment period, which is due to end in 2014.
- Register Now
- Golden Dawn's Australian aspirations uncovered
- More Greeks calling Australia home
- Paedophilia charge for Greek Australian
- Greek Adelaide church in hot water again
- Fans make the Wanderers a good investment
- Do it like the Greeks says German consul
- Sixth place for Alcohol is Free
- Tailor made coffee
- AFP show support for Cyprus
- Man sues Qatar over drinks car accident
- 8 May 2013 | 12 Votes
- 3 May 2013 | 9 Votes
- 15 May 2013 | 9 Votes
- 8 May 2013 | 8 Votes
- 13 May 2013 | 7 Votes
- 24 Apr 2013 | 6 Votes
More from this Section
- Greek journalist arrested in Iran
- Volunteerism on the rise in Greece
- Greek shipowners choose Chinese shipyards
- Anti-racism legislation divides coalition
- Paedophilia charge for Greek Australian
- 13 injured in taverna blast in Salamina
- ND and SYRIZA in Golden Dawn row
- Anti-racism bill causes rift in government
- Director Oliver Stone wishes Tsipras 'good luck'
- Teachers call off strike
A winter must in a Greek household
Matt Simon, Nick Carle and Mitch Nichols back in the A-League
Greek artist-architect, sculptor and philosopher Kostis Velonis talks to Neos Kosmos as he visits Melbourne for the opening of the exhibition Direct Democracy
Hitting the market around August this year, Holden will release the HSV Gen F
The FFA has been very cautious in selecting who will be part of the A-League, fearing soccer will become a race-driven game again
23-year-old Greek born athlete was diagnosed with Hodgkins lymphoma back in 2011
Bank of Sydney customers and guests gathered last week to launch their new Marrickville branch.
The FFA chief, David Gallop says the A-League will make up for a Socceroos' loss
Two people are in intensive care and another 11 are being treated for minor injuries after an explosion in a taverna on the island of Salamina, off the coast of Piraeus
Vevi and Corinth targeted in attempt to locate troops buried anonymously
Historian Jim Claven tours the modern-day city and reflects on the Byzantine and Orthodox legacy.
Two remaining Australian players in the English Premier League could be ditched by their teams
Demure family matriarch gets respectful send-off
Nine units in Athens and Thessaloniki only have adequate methadone for program members for another week
Is Greek Easter the only time young Greek Australians make it to church? Neos Kosmos investigates what draws young parishioners.
Mitchell Duke and Trent Sainsbury of the Mariners are among 12 Australian-based players selected for a Socceroos training camp
Just shy of turning 100, three Greek Australian sisters die within 17 days of each other
Australian Federal Police to continue their support in Cyprus