Saturday October 25, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Athens left to its own fiscal devices

 Berlin suggests that the next tranche of bailout money will not have to come in June

By Prokopis Hatzinikolaou and Sotiris Nikas

Berlin signaled on Friday that the eurozone is unlikely to send the next tranche of bailout money to Greece before the political landscape becomes clearer in Athens, especially in terms of the application of measures agreed with the country’s international creditors. At the same time the caretaker government is putting into action plans to bolster the collection of tax revenues.

“As far as I am aware, there is no current need for external financing up until beyond the first half of the year,” German Finance Ministry spokesman Martin Kotthaus told a press conference in Berlin, adding that a delay of a few weeks would be “unproblematic.”

The next Greek bond to mature is payable on August 20 to the European Central Bank and amounts to 3.1 billion euros. It seems, however, that the eurozone has closely examined the Greek state’s cash flow and ensured that it will have enough funds to manage without the June installment -- the eurozone was scheduled to lend Greece 2.6 billion euros.

Reports yesterday suggested revenues in May are lagging by 20 to 30 percent, which, factoring in the likely delay of the June tranche, means the Finance Ministry must urgently find extra public revenues as soon as possible.

Minister Giorgos Zannias called an extraordinary meeting on Friday with his general secretaries and decided to adopt three measures to boost revenues. These are an increase in checks to identify corporations and self-employed people who do not pay value-added tax, the delivery of notices for the payment of overdue debts to the state, and the issue of guidelines for working groups monitoring taxpayers with sizable wealth and real estate.

On Monday Zannias will begin a round of meetings with the heads of the country’s biggest tax offices, which together cash in about 80 percent of revenues, in a bid to draft a plan for a revenues rebound.

The minister is also particularly worried by the considerable drop in revenues from special consumption taxes, which in the January-April period have declined by 1.7 billion euros on an annual basis.

ekathimerini.com , Friday May 25, 2012 (22:37)  
Nicosia says reforms are bringing results
TAIPED waits for green light from Eurostat
Trade deficit shrinks on big drop in imports
SMEs unable to claim subsidies
Samaras pledges action after flash floods in Athens
Authorities began on Saturday assessing the damage done by flash floods in various parts of Athens a day earlier, with Prime Minister Antonis Samaras pledging that all those affected would b...
No court hearings for civil cases
Greek courts are to stop conducting hearings, which include witness questioning, for civil cases, according to plans drawn up by the Justice Ministry. Kathimerini understands that in a bid t...
Inside News
BASKETBALL
A win is a win is a win for Olympiakos
A bad Olympiakos defeated a worse Laboral Kutxa 63-57 to make it two out of two in the Euroleague on Friday. In a game where the two teams had an overall field goal rate of about one in thre...
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
Inside Sports
COMMENTARY
End of reason, end of humanity
The effects of a slew of new and increased taxes introduced since the start of the crisis were first observed in the wages of those still fortunate enough to have jobs, who saw their take-ho...
EDITORIAL
Banks need to step up
What has been leaked so far regarding the results of the stress tests on Greece’s lenders, which are due to be published on Sunday, appears positive. Greece needs a healthy, private banking ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Nicosia says reforms are bringing results
2. Samaras pledges action after flash floods in Athens
3. No court hearings for civil cases
4. Greece’s lenders seem adamant that gov’t must act on bailout commitments
5. Future of Attica trash set to become clearer
6. Policeman admits to murder of his cousin-in-law
more news
Today
This Week
1. End of reason, end of humanity
2. Banks need to step up
3. Samaras pledges action after flash floods in Athens
4. Nicosia says reforms are bringing results
5. Greece’s lenders seem adamant that gov’t must act on bailout commitments
6. No court hearings for civil cases
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Greece must stick to reforms, says Schaeuble
4. At least 11 banks to fail European stress tests, three in Greece, report says
5. Cyprus to block Turkey's EU talks after EEZ violation
6. Stop moaning and get in the game
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.