Tuesday October 21, 2014 Search
Weather | Athens
24o C
11o 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)  
Konstantopoulos criticizes gov’t as corruption probe continues
Greek gov´t calls on parties to condemn Maziotis threat
Austrian president begins two-day visit to Greece
Athens police arrest teen suspected of abduction, burglary
Athens bourse index leaps on big bank gains
The third straight day of Greek stock market gains brought the benchmark close to the 1,000-point mark on Tuesday, as investors are pricing in expectations for a very positive result to the ...
Think-tank says political uncertainty slowing investment in Greece
Political uncertainty ahead of a presidential vote early next year is dampening investment appetite in Greece, the Athens-based IOBE think-tank said on Tuesday as it confirmed its previous f...
Inside Business
BASKETBALL
PAOK fans stop coach Markopoulos´s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
COMMENTARY
The ECB collateral for Greece must be lowered to 5 pct
According to recent reports, the European Central Bank plans to reduce the “57 percent penalty,” that is the discount applied to almost all Greek government bonds (GGBs) held as collateral b...
INTERVIEW
The past, present and future of the Greek debt crisis
For a decade, until mid-2012, Josef Ackermann was the CEO at Deutsche Bank. It was a position that earned him the nickname “shadow chancellor” of Germany and allowed him to play a decisive r...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Konstantopoulos criticizes gov’t as corruption probe continues
2. Greek gov´t calls on parties to condemn Maziotis threat
3. Austrian president begins two-day visit to Greece
4. Athens police arrest teen suspected of abduction, burglary
5. Athens bourse index leaps on big bank gains
6. Greek farmers warn they´re warming up for protests
more news
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Gang importing heroin into Greece busted
3. Self-opposing coalition
4. Gutsy rectors
5. SDOE to probe Proton Bank loan to Thessaloniki businessman
6. Applications for heating oil subsidy set to start
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Greece to contribute 1 mln towards Gaza reconstruction
3. Istanbul skyscraper casts shadow over Greece's banking ambitions
4. Greece nearing bailout exit, says gov't spokesperson after IMF talks
5. Coalition shooting itself in the foot
6. GPO poll gives SYRIZA clear lead over New Democracy
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.