Saturday November 1, 2014 Search
Weather | Athens
18o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
European Commission sets out next targets

The European Commission praised Greece on Friday for making “delayed but substantive progress” with structural reforms and producing a “strong” fiscal performance but also set the government some pressing deadlines this summer.

In its fourth review of the Greek adjustment program, Brussels identified a number of positives but also made it clear that Athens will not be allowed to let up. “It is essential to ensure that the ambitious reform agenda is fully implemented to close any remaining fiscal gaps,” the Commission said in its report.

Apart from referring to the better-than-expected 2013 primary surplus of 1.5 billion euros, under the troika’s calculations, the Commission also said that Greece is on track to meet its fiscal targets this year.

Brussels sees the economy growing this year for the first time since 2008, by 0.6 percent of gross domestic product. Nevertheless, 7.7 billion euros of new fiscal measures will have to be adopted between 2015 and 2017.

The more immediate concern for the government will be the prior actions that the Commission wants Greece to complete before it receives the next bailout installments of 1 billion euros each in June and July.

Troika officials are due back in Athens in June to check on the coalition’s progress, although a full review of the adjustment program will not begin until August.

Among the reforms being demanded by Greece’s lenders are giving the TAIPED privatization fund a greater role in the public organizations that are to be sold off, strengthening legislation against tax evasion and adopting a new law governing the funding of political parties.

These reforms have to be completed by the end of June, along with the scrapping of nuisance, or parafiscal, charges that raise revenues for auxiliary pension funds.

The government also has a range of targets to hit by the end of September. These include drafting the 2015 budget with new fiscal measures, passing legislation that will link civil servants’ pay to their performance and submitting a plan for a new overhaul of the pension system.

ekathimerini.com , Friday April 25, 2014 (19:06)  
Ministry swap halts talk of reshuffle as reforms eyed
Turkish-Greek cooperation in Aegean helps stem flow of migrants
Holocaust memorial in Athens vandalized
Turkey raises tensions, insisting on keeping vessel off Cyprus
Disposable income of households fell 10.3 pct in one year
The reduction of Greek households’ disposable incomes in 2013 compared with 2012 amounted to a total of 14 billion euros, the biggest since the start of the crisis according to data released...
Banks unhappy with bad loans bill
Bank officials are expressing serious reservations about the efficiency of the government’s bill regarding nonperforming corporate loans, arguing that the target set by the Development Minis...
Inside Business
BASKETBALL
Spanoulis played Zeus for Olympiakos against Neptunas
Captain Vassilis Spanoulis helped Olympiakos narrowly avoid an upset on Friday as it defeated Euroleague debutant Neptunas Klaipeda 85-81 in overtime in Lithuania to preserve its perfect sta...
BASKETBALL
Obradovic watches Greens thrash his Fenerbahce
The second homecoming of former Panathinaikos coach Zeljko Obradovic, now at Fenerbahce, was not as emotional as last year’s, but it was certainly was the night of an emphatic triumph for th...
Inside Sports
COMMENTARY
The judiciary’s responsibility
The reform efforts over the past few years have begun to bear fruit. Greece has improved its standing in the World Bank’s Doing Business rankings, rising 48 positions from 2010 to 61st place...
EDITORIAL
Findings raise eyebrows
An investigation into money transferred to foreign banks by civil servants since 2010, when Greece’s brutal debt crisis erupted, has come up with some striking findings. The checks, which we...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Spanoulis played Zeus for Olympiakos against Neptunas
2. Disposable income of households fell 10.3 pct in one year
3. Banks unhappy with bad loans bill
4. State debtor numbers grew in September
5. Reform plan among conditions
6. Ministry swap halts talk of reshuffle as reforms eyed
more news
Today
This Week
1. Archaeologists find underground vault at Amphipolis tomb
2. Man shot dead, woman injured in Vathis square attack
3. Greek retail sales rise for third month in a row
4. Cyprus’s Georgiades bets on economy for Irish-style bailout exit
5. Germany’s 10-year bonds decline before euro-area inflation data
6. New defense minister to be appointed without reshuffle
Today
This Week
1. Austria’s creative bookkeeping beats Greece on secret debts
2. End of reason, end of humanity
3. Clean bill of health for Greek banks from stress tests
4. Samaras pledges action after flash floods in Athens
5. Eurobank, National Bank restructurings eliminate capital gap
6. Athens flood damage assessed, compensation payments to begin
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.