Wednesday October 22, 2014 Search
Weather | Athens
24o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
No troika deal before EU summit

European Commission envoy Matthias Mors (left) arrives at the Greek Finance ministry in Athens on Monday

Efforts to conclude an agreement between Athens and the troika ahead of the European Union leaders’ summit on Thursday are unlikely to succeed as the two sides remained some distance apart on the austerity measures and structural reforms needed to seal the deal.

This means that a decision on the disbursement of Greece’s next loan tranche will have have to be taken at an extraordinary Eurogroup meeting toward the end of this month or at the beginning of November. Eurozone finance ministers are due to meet on November 12 but should there be an agreement in Athens over the next few days, another meeting to decide on the Greek installment is likely to be called before then.

The troika’s latest demands, particularly with respect to the labor market, where Greece’s lenders want the notice period and compensation for workers facing dismissal to be reduced substantially, have created friction in the coalition. PASOK and Democratic Left have expressed their concerns to Samaras, who is due to meet with his coalition partners, Evangelos Venizelos and Fotis Kouvelis, on Tuesday afternoon.

The troika is due to resume talks with Labor Minister Yiannis Vroutsis on Tuesday. Greece’s lenders want the notice period to be reduced from six months to three and for the compensation to be a maximum of 12 months’ pay rather than 24.

Another sticking point is the troika’s demand for immediate sackings in the public sector. A meeting between visiting officials and Administrative Reform Minister Antonis Manitakis on Monday failed to yield results, although the latter said he was hopeful that there would be an agreement. The troika has rejected a plan for 15,000 civil servants to be dismissed with reduced wages for a year, demanding instead that bureaucrats from state organizations that are closed or merged be made redundant straight away.

ekathimerini.com , Monday October 15, 2012 (22:43)  
Archaeologists find missing head of Amphipolis sphinx
Coalition leaders prepare for troika amid sour mood
Parties at odds over university ID checks
At Defense Ministry, Tsipras assures policy continuity
Credit sector officials sleeping easy ahead of stress test results
Analysts, investment banks and institutional investors appear optimistic regarding the results of the European Central Bank stress tests on local lenders, which has been mirrored in the perf...
Certainty on primary surplus target
The state budget’s primary surplus beat expectations by almost a billion euros in the first nine months of the year, General Accounting Office data confirmed on Tuesday, but tax revenues and...
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. Credit sector officials sleeping easy ahead of stress test results
2. Certainty on primary surplus target
3. Feverish talks on payment plan proposals
4. TUI promises even more tourists
5. Archaeologists find missing head of Amphipolis sphinx
6. Coalition leaders prepare for troika amid sour mood
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. Greece said to seek tailor-made plan for bailout exit
5. Gutsy rectors
6. Applications for heating oil subsidy set to start
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Istanbul skyscraper casts shadow over Greece's banking ambitions
3. Coalition shooting itself in the foot
4. GPO poll gives SYRIZA clear lead over New Democracy
5. Samaras’s crumbling Greek exit lacks backing from economists
6. Greece must stick to reforms, says Schaeuble
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.