Thursday October 30, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Banks' capital needs remain main obstacle to deal between Greece and troika

Greece and the troika still remain some distance apart on a number of issues that are preventing inspectors from concluding the review of the Greek program and recommending the release of further bailout funding.

The main sticking point during talks between Finance Minister Yannis Stournaras and the country’s lenders on Wednesday was the disagreement over Greek banks’ capital needs. Athens puts the figure at 6 billion and the troika closer to 9 billion. Greek officials suggested to the troika that the banks issue be separated from the review.

“The disagreement between the troika and Greece on banks should not be the reason not to conclude the review,” a senior Finance Ministry official who declined to be named told Reuters.

“This means that Greek banks will be recapitalized based on the Greek central bank’s [stress test] results. When the European Central Bank’s stress tests come out, and if there is a difference, then additional capital will be provided,” the official added.

Other pending issues include the troika’s demand that rules on mass dismissals change. A planned meeting Wednesday between the lenders and Labor Minister Yiannis Vroutsis was postponed. The troika also wants to approve a new midterm fiscal plan, which has to be submitted to Parliament by May and will contain the measures needed to cover next year’s fiscal gap.

On Tuesday, the head of the European Stability Mechanism, Klaus Regling, told reporters that some 9 billion euros in bailout funding which Greece is expecting to receive could be released as early as next week.

“If there is a positive result of the troika review and if conditionalities are met, there could be a rapid disbursement of funds to Greece,” he said.

However, there is a strong possibility that Stournaras will travel to Monday’s Eurogroup in Brussels without an agreement between Athens and the troika. This could lead to the disbursement of money for Greece being approved during a eurozone finance ministers’ teleconference later on in March. The next Eurogroup is an informal one and will be held in Athens. European officials have made it known they would not like the decision on the bailout tranche to be taken in the Greek capital and would prefer the transfer not to be approved so close to the date when 9.8 billion euros of bonds mature in May.

ekathimerini.com , Wednesday March 5, 2014 (21:17)  
N17 terrorist struggling to find support, say Greek police
Patra mayor defends refusal to hand over employees´ details
Two men to pay off sentences for rape, procurement of schoolgirl
Friday deadline for flood damage compensation applications
Italy, Greece banks lead Europe decliners amid capital concerns
Italian and Greek banks led stock declines among the region’s lenders after European Banking Authority Chairman Andrea Enria said stress tests completed last week aren’t foolproof and more m...
European stocks tumble as banks decline after Enria’s comments
European stocks retreated, erasing earlier gains, as banks from peripheral euro-area nations tumbled. U.S. index futures and Asian shares also declined. The Stoxx Europe 600 Index fell 0.7 p...
Inside Business
SOCCER
Greece drops Samaras for Euro 2016 qualifier
Greece coach Claudio Ranieri has dropped striker Georgios Samaras from the national team after a dismal start to European Championship qualifying. Samaras, who plays for West Bromwich Albion...
BASKETBALL
Panathinaikos and PAOK retain perfect record
The third round of games in the Basket League over the weekend saw PAOK overcome the strong resistance of host KAOD at Drama, and Panathinaikos and Olympiakos inflict heavy losses on AEK and...
Inside Sports
COMMENTARY
Time is running out in Afghanistan
Thirteen years after the attacks on the Twin Towers and NATO's entry into the war in Afghanistan, things remain pretty much unchanged: Political instability and insecurity  reign in the Cent...
COMMENTARY
Cool heads required
It’s time for Athens and Nicosia to deal with the current situation in Cyprus’s Exclusive Economic Zone (EEZ), which a Turkish seismic research vessel has breached against international law,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. N17 terrorist struggling to find support, say Greek police
2. Patra mayor defends refusal to hand over employees´ details
3. Two men to pay off sentences for rape, procurement of schoolgirl
4. Friday deadline for flood damage compensation applications
5. IMF cautions Greece on early withdrawal from program
6. In Athens, NATO chief sees spike in Russian flights on border
more news
Today
This Week
1. Greek euro dilemma is back as minister predicts volatility
2. Students hijack university senate meeting
3. Clientelism belongs to the past, says Mitsotakis
4. Over 1,500 buildings and vehicles damaged in flash floods
5. European stocks tumble as banks decline after Enria’s comments
6. Peripheral banks lead European shares lower after positive start
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Austria’s creative bookkeeping beats Greece on secret debts
3. Cyprus to block Turkey's EU talks after EEZ violation
4. End of reason, end of humanity
5. Clean bill of health for Greek banks from stress tests
6. Samaras pledges action after flash floods in Athens
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.