Thursday October 30, 2014 Search
Weather | Athens
19o C
12o 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 month’s 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 Athens’s aim is to reach an agreement before the end of the European Parliament’s term in April, due to the upcoming elections in May.

ekathimerini.com , Wednesday Jan 22, 2014 (22:57)  
Italy, Greece banks lead Europe decliners amid capital concerns
European stocks tumble as banks decline after Enria’s comments
Germany’s bonds rise as consumer prices decline in six states
Peripheral banks lead European shares lower after positive start
In Athens, NATO chief sees spike in Russian flights on border
NATO's new chief said on Thursday the alliance is increasing its readiness and air policing following a spike in Russian air force activity in Eastern Europe. Jens Stoltenberg said while NAT...
Germany denies backing proposal for Greece to exit aid program
Germany denied it’s given support to proposals that would help Greece exit its bailout early, dealing a blow to a plan that’s already unnerved investors in the nation’s debt. The German gove...
Inside News
SOCCER
Greece drops Samaras for Euro 2016 qualifier
Greece coach Claudio Ranieri has dropped striker Georgios Samaras from the national team after a dismal start to European Championship qualifying. Samaras, who plays for West Bromwich Albion...
BASKETBALL
Panathinaikos and PAOK retain perfect record
The third round of games in the Basket League over the weekend saw PAOK overcome the strong resistance of host KAOD at Drama, and Panathinaikos and Olympiakos inflict heavy losses on AEK and...
Inside Sports
COMMENTARY
Time is running out in Afghanistan
Thirteen years after the attacks on the Twin Towers and NATO's entry into the war in Afghanistan, things remain pretty much unchanged: Political instability and insecurity  reign in the Cent...
COMMENTARY
Cool heads required
It’s time for Athens and Nicosia to deal with the current situation in Cyprus’s Exclusive Economic Zone (EEZ), which a Turkish seismic research vessel has breached against international law,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. In Athens, NATO chief sees spike in Russian flights on border
2. Greece drops Samaras for Euro 2016 qualifier
3. Germany denies backing proposal for Greece to exit aid program
4. Boy, 13, dies after falling from fifth floor in Thessaloniki
5. Italy, Greece banks lead Europe decliners amid capital concerns
6. Civil servants to be investigated for transferring money abroad
more news
Today
This Week
1. Greek euro dilemma is back as minister predicts volatility
2. Students hijack university senate meeting
3. Clientelism belongs to the past, says Mitsotakis
4. Over 1,500 buildings and vehicles damaged in flash floods
5. Peripheral banks lead European shares lower after positive start
6. European stocks tumble as banks decline after Enria’s comments
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Austria’s creative bookkeeping beats Greece on secret debts
3. Cyprus to block Turkey's EU talks after EEZ violation
4. End of reason, end of humanity
5. Clean bill of health for Greek banks from stress tests
6. Samaras pledges action after flash floods in Athens
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.