Monday April 20, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Stournaras set to face questions on competition rules and fiscal gap at Eurogroup

Greek Finance Minister Yannis Stournaras is expected to inform his eurozone counterparts on Monday that the government plans to implement the vast majority of recommendations made by the Organization for Economic Cooperatioon and Development to remove barriers to competition.

Stournaras is likely to come under pressure at the Eurogroup meeting as the current review of Greece’s adjustment program remains open. Greece’s lenders last week made it known that they want Athens to adopt the OECD’s proposals before the review can be completed.

After an 11-month study, the OECD identified in November 555 regulatory restrictions which it says undermine competition. The Paris-based organization made 329 recommendations on legal provisions that should be amended or repealed.

The OECD estimates the benefit to the Greek economy would be around 5.2 billion euros, or roughly 2.5 percent of gross domestic product, as a result of “increased purchasing power for consumers and efficiency gains for companies.”

The government is likely to agree to adopt around 80 percent of the OECD’s proposals.

However, there are also two key fiscal issues that remain unresolved. One concerns the fiscal gap for 2014 and whether a Council of State ruling reversing wage cuts in the armed forces and emergency services means that the government has to adopt new measures this year.

Then, there is the matter of the fiscal gap for 2015. The government estimates this to be around 1 billion euros, whereas the troika believes it will be two to three times this figure.

Troika officials are expected to return to Athens towards the end of this week or the beginning of next week. The aim is to achieve a staff level agreement in time for the Eurogroup which is due to take place on February 17.

ekathimerini.com , Monday Jan 27, 2014 (09:52)  
Unclear strategy has everyone puzzled
Piraeus confirms absorption of Panellinia Bank
Social security problem is due to general economic issues
List of revenue measures drafted
Greece will not cross ´red lines´ on debt talks: deputy PM
Greece's deputy prime minister Yiannis Dragasakis said on Sunday that Athens would stand firm on its red lines in negotiations with its creditors for billions in aid, despite escalating fear...
Tsipras says EU needs urgent plan to tackle migrant crisis
Greek Prime Minister Alexis Tsipras urged the European Union on Sunday to urgently come up with a plan to tackle a mounting migrant humanitarian crisis in the Mediterranean. "The Mediterrane...
Inside News
GYMNASTICS
Petrounias wins gold in Europeans
Lefteris Petrounias won his first gold medal in a European Artistic Gymnastics Championship on Saturday finishing first in the rings at Montpellier in France. Petrounias was impeccable in th...
BASKETBALL
Panelefsiniakos is relegated from the Basket League
Panelefsiniakos has become the other team to go down from the Basket League, after Panionios, as in the battle for survival against Korivos Amaliadas it hosted on Saturday it lost to its vis...
Inside Sports
COMMENTARY
The price of compromise
The representatives of the middle-class political world made plenty of compromises over the years and now we are paying the price. The current government’s appointment of failed politicos, u...
EDITORIAL
Premier’s choice
Prime Minister Alexis Tsipras was not elected by the 4 percent that has traditionally formed the hard core of SYRIZA supporters. Greeks may be desperate and exhausted but they still have the...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Petrounias wins gold in Europeans
2. Greece will not cross ´red lines´ on debt talks: deputy PM
3. Tsipras says EU needs urgent plan to tackle migrant crisis
4. Panelefsiniakos is relegated from the Basket League
5. Olympiakos clinches fifth consecutive soccer league title
6. Unclear strategy has everyone puzzled
more news
Today
This Week
1. Coalition ponders next move as talks with lenders resume
2. The price of compromise
3. Greece bailout plan still lacking, ECB chief Mario Draghi says
4. Spike in Syrians seeking asylum in Greece
5. Potami not seeking cooperation with other parties, says leader
6. Panousis skeptical about law allowing early prison release
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek finance ministry hits back at German newspaper report
3. Time to get serious
4. 'Civil war' brewing over disputed Greek goldmine
5. Putting off payments led to Q1 budget primary surplus
6. Obama calls for flexibility in Greek reform talks in brief exchange with Varoufakis
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.