Tuesday Jul 22, 2014 Search
Weather | Athens
29o C
22o 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 The Paris-based organization made 329 recommendations on legal provisions that should be amended or repealed.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)  
BoG rejects single bad bank
PPC rate hikes to apply as of this Friday
Fage to increase strained yogurt production at its New York plant
Crete is most the popular Greek island
Ministers asked to sign off on prior actions so 1-bln-euro tranche can be secured
Government officials are scrambling to bundle a set of reforms Greece has pledged to the troika into a multi-bill with the aim of voting it through Parliament in early August and securing a ...
Athens seeks EU aid for migration
Public Order Minister Vassilis Kikilias and Merchant Marine Minister Miltiades Varvitsiotis on Monday accompanied visiting European Home Affairs Commissioner Cecilia Malmstrom on a tour of a...
Inside News
TRACK & FIELD
Pole vault record on same day as three doping cases
Greek track and field had a mixed weekend, as on the same day as Katerina Stefanidi matched the national record in pole vault as well as the leading result in Europe so far this season, thre...
SOCCER
Standard Liege on Panathinaikos’s way
The draw for the third qualifying round of the Champions League on Friday has put Belgian league runner-up Standard Liege on Panathinaikos’s way to the competition’s play-offs, meaning the G...
Inside Sports
COMMENTARY
Unequal after death
The dead are dead and the slain are slain, whether they are Malaysian, Dutch, Palestinian or Israeli, whether they are the innocent victims of a civilian plane that is shot down (we still do...
EDITORIAL
Chinese investment
The relationship between Greece and China has become one of major strategic importance. Beijing threw its support behind Athens during a period when the country was going through particularl...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Ministers asked to sign off on prior actions so 1-bln-euro tranche can be secured
2. Athens seeks EU aid for migration
3. SYRIZA MEP to raise German war ‘debts’ at Euro Parliament
4. Girl, 9, in serious condition after being hit by car in Crete
5. Man arrested for firing at police
6. Maziotis refuses to answer to magistrate
more news
Today
This Week
1. Unequal after death
2. Chinese investment
3. Climber dies in Mount Olympus fall
4. Retail chief unimpressed by results of Sunday opening
5. Greek court halts deportation of Kenyan asylum seeker
6. Hardouvelis reminds fellow ministers of tasks before troika return in September
Today
This Week
1. China and Greece agree to further cooperation in transportation, infrastructure
2. Ex-Credit Suisse banker taps lesson for Greek rebound
3. Pay-TV booms as cash-strapped Greeks shun depressing news shows
4. The cost of excellence
5. Greece seen in third bailout as bonds not enough, economists say
6. Summer storms cause problems in Thessaloniki, spread across the country
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.