Wednesday October 1, 2014 Search
Weather | Athens
28o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Troika talks need more time

 Stournaras says the process is difficult, as government officials expect an agreement by February 17

By Eleni Varvitsioti & Nikos Chrysoloras

Negotiations between Athens and its international creditors will last as long as it takes to reach an agreement, Finance Minister Yannis Stournaras told the European Parliament on Wednesday in Brussels. He added that this assessment process is difficult, with the government trying to achieve the best possible result for the sake of the Greek people.

Nevertheless sources say the prevailing feeling among government officials is that the months-long assessment which started in September will be completed before next months Eurogroup meeting, scheduled for February 17.

The same sources claim that the difficulties at the moment are mostly technical, even semantic in certain instances, while as far as the substance is concerned the most important problem concerns the fiscal gap in the program that requires further cuts to reach the primary surplus planned for 2015. The measures to plug that gap have not even reached the negotiating table yet.

Despite that fresh delay, Stournaras again highlighted the progress Greece has recorded, citing the primary deficit Greece had in 2009, at 10.4 percent of gross domestic product, which turned into a primary surplus estimated at 0.4 percent of GDP in 2013. This is the biggest and fastest fiscal adjustment ever recorded in an OECD economy, the Greek finance minister said, referring to the member states of the Organization for Economic Cooperation and Development.

Stournaras addressed the European Parliament as the head of the ECOFIN council of European Union economy and finance ministers for the current six-month period, and stated his priorities for the rotating presidency of the EU, which Greece presently holds. He said the biggest challenge is the agreement of member states and the European Parliament on the completion of the banking union, with the introduction of a centralized system to deal with problems related to credit institutions. Stournaras added that Athenss aim is to reach an agreement before the end of the European Parliaments term in April, due to the upcoming elections in May.

ekathimerini.com , Wednesday Jan 22, 2014 (22:57)  
Troika, ministry close to deal on corporate debts
Greek bonds rise on speculation ECB to allow bank-loan purchases
Greek factory activity returns to contraction in September - PMI
Mario Draghi to push ECB to buy Greek, Cypriot junk loans: FT
Thessaloniki NGOs appeal for help to deal with influx of Syrian refugees
Two non-governmental organizations appealed to the public on Wednesday to donate clothing and food to help dozens of refugees from war-torn Syria who have flooded into Thessaloniki over the ...
Incoming EC President Jean-Claude Juncker to visit Athens
Incoming European Commission President Jean-Claude Juncker is expected to visit Athens on Friday, the Commission's press office confirmed on Wednesday. The former prime minister of Luxembour...
Inside News
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
SOCCER
Karamanos punishes Michel for deeming him surplus
Atromitos forced Olympiakoss first loss this season in all competitions on Saturday to allow PAOK to go alone on top of the Super League table on Sunday. Odds-on title favorite Olympiakos l...
Inside Sports
COMMENTARY
Truth before the battle
The coalition has lost its sense of direction in the last few months. Exactly where things went off track is not the question at this stage. What is certain is that if it continues competing...
EDITORIAL
Bending the rules
The flexibility with which laws are implemented has been a fundamental cause for concern in Greece during the post-dictatorship era. Everything becomes a subject for negotiation, even in cas...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Thessaloniki NGOs appeal for help to deal with influx of Syrian refugees
2. Troika, ministry close to deal on corporate debts
3. Incoming EC President Jean-Claude Juncker to visit Athens
4. Greek bonds rise on speculation ECB to allow bank-loan purchases
5. Seven arrested in Greece in migrant smuggling ring
6. Velvento banks robbers not terrorists, court rules
more news
Today
This Week
1. Air-raid sirens to go off all over Greece at 11 a.m. in drill
2. Truth before the battle
3. Mario Draghi to push ECB to buy Greek, Cypriot 'junk' loans: FT
4. Smallpox decimates sheep stocks in northern Greece
5. Thessaloniki transport gets more expensive
6. Bending the rules
Today
This Week
1. Greece may opt for unusual president to avoid snap polls, Venizelos says
2. Woman allegedly buried alive by accident in northern Greece
3. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
4. Should you bet with Kissinger on where the world is heading?
5. Cypriots divided by 1974 war seek Shariah hub
6. The shocking thought of euro-dollar parity
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.