Greece Says Troika Talks Concluded, Timing Of Report Unclear
By Market News International || June 3, 2011 at 14:45 GMT
ATHENS (MNI) – The Greek Finance Ministry announced Friday
afternoon that the government has concluded its talks with technical
experts from the European Commission, the IMF, and the ECB, but it
remained unclear whether the report of the so-called “troika” would be
issued later today, over the weekend, or even next week.
The ministry said the talks, which lasted an unexpectedly long
three weeks and took place against the backdrop of rising financial and
social tension, had concluded “positively.” It gave no other details
other than to characterize the topics covered in general terms.
The talks were a regularly scheduled quarterly review of progress
achieved by Greece in implementing the economic and fiscal conditions
imposed by the ECB, IMF and the Commission as part of a E110 billion
bailout package put in place about thirteen months ago.
The troika and Greek officials also discussed new measures,
including an expedited program of privatization intended to ensure the
government meets its fiscal targets both this year and in the medium
term. The government has pledged to reduce the public budget deficit to
7.5% of GDP this year from 10.5% in 2010 and to 1% by 2015.
The troika’s stay in Athens coincided with parallel negotiations
among national Eurozone politicians and senior officials from the ECB,
the Commission and the IMF over a new aid package for Greece totaling
between E65 billion and E70 billion, on top of the current E110 billion
package.
Though officials are said to be closing in on a deal for a new
program, some key sticking points have slowed the talks and are not yet fully resolved. They include a heated debate over a demand by Germany and some other countries to put some of the financial burden for the new package on private creditors; domestic opposition in Greece to another planned round of public sector layoffs; and even fiercer resistance to the privatization program which, at the behest of European and IMF officials outside Greece, would be managed by a private agency with heavy input from foreigners.
Greek Prime Minister George Papandreou is currently meeting in
Luxembourg with Eurogroup President Jean-Claude Juncker. There has been speculation that if their discussion goes well it could clear the way for release of the troika report — and perhaps even some details of a new aid package — as early as today. But that is entirely uncertain, and it is equally unclear how well their discussion will go.
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Alcuni punti critici non sono ancora stati risolti.
Papandreou è in riunione con Juncker, forse al termine ci sarà qualche dettaglio in più.