Saturday November 1, 2014 Search
Weather | Athens
18o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
No more aid expected for Greece before March, says Stournaras

European Commissioner for Economic Affairs Olli Rehn, left, speaking with Greek Finance Minister Yannis Stournaras in Brussels on Monday.

Finance Minister Yannis Stournaras said on Monday that further rescue funding is unlikely to be approved before March as European officials meeting in Brussels pressed Athens to intensify its reform efforts.

Stournaras was speaking at the conclusion of a summit of eurozone officials in Brussels where Greece was not officially on the agenda but was discussed on the sidelines. He said he hoped a deal could be reached with troika officials next month, paving the way for the release of aid in March, and suggested that a primary surplus for 2013, estimated at 830 million euros, would help plug a fiscal gap for 2014. “The matter has been solved in a way that cannot be disputed,” he said.

Stournaras added that any fiscal gap for 2015 would be covered with structural reforms, not further austerity measures. Asked about the cost of a recent court decision, leaked to the Greek media, that reverses wage cuts for military and security services employees, Stournaras said he could not comment on a decision that has not yet been announced.

European officials pressed Greece to move forward with reforms. Dutch Finance Minister Jeroen Dijsselbloem, who leads the Eurogroup, said there has been “far too little” progress. “I am sorry to say that the review is not yet concluded and further work is needed in Greece before the troika can return to Athens,” he said. “We call on Greece and troika partners to do their utmost to conclude negotiations as soon possible,” he added.

German Finance Minister Wolfgang Schaeuble noted that Greece’s fiscal data “looked good” but that “further efforts are needed,” while Michael Spindelegger of Austria expressed concerns about structural reforms and a lagging privatization program.

Apart from pushing Athens to move forward with stalled structural reforms and state sell-offs, envoys representing Greece’s troika of international lenders have pressed government officials to adopt a raft of proposals aimed at removing barriers to competition.

The proposals are set out in a report by the Organization for Economic Cooperation and Development and the government is prepared to enforce 80 percent of them, sources revealed after Prime Minister Antonis Samaras and his coalition partner Evangelos Venizelos discussed the matter last week. But sources close to Development Minister Costis Hatzidakis said there is resistance to many reforms, particularly among the ranks of PASOK. “Nothing has been resolved,” one source said.

ekathimerini.com , Monday Jan 27, 2014 (21:02)  
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. Cyprus’s Georgiades bets on economy for Irish-style bailout exit
4. Greek retail sales rise for third month in a row
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.