Friday September 19, 2014 Search
Weather | Athens
27o C
19o 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 The Paris-based organization made 329 recommendations on legal provisions that should be amended or repealed.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)  
Local lenders draw 5 bln for loans to SMEs
Tourism drives jobless rate down
Hardouvelis asks for some room to breathe
Athens could miss out on last bailout installment
Police, protesters clash during rally to mark Fyssas killing
Greek police fired teargas at protesters who hurled petrol bombs and stones in Athens on Thursday during a rally marking one year since the killing of an anti-fascism rapper by a far-right G...
Prescription limit to rein in EOPYY spending
In a bid to rein in its expenses, the country’s largest healthcare provider, EOPYY, is to announce a limit in the coming days on the number and type of diagnostic tests that doctors affiliat...
Inside News
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their country’s independence or whether they will remain citizens of the “United Kingdom of Great Britain and Northern Ireland.” What was alread...
COMMENTARY
Greek society’s and lenders’ fatigue
The issue of early elections continues to dog the coalition government despite all the official denials. That the administration is losing its cool is obvious. The political discourse has no...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Triumph for PAOK, historic result for Asteras in Europa League
2. Local lenders draw 5 bln for loans to SMEs
3. Tourism drives jobless rate down
4. Hardouvelis asks for some room to breathe
5. Athens could miss out on last bailout installment
6. Police, protesters clash during rally to mark Fyssas killing
more news
Today
This Week
1. SYRIZA ahead of ND, new opinion poll shows
2. Extradited Greek couple to face magistrate in Athens
3. National Bank of Greece said to pick advisers for Turkish sale
4. Man's charred remains retrieved from vehicle following accident
5. Unemployment at 26.6 percent in second quarter of 2014
6. Bank of Cyprus sells UK loan portfolio
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Democracy under Pressure | Live Streaming
6. SYRIZA spokesman suggests gov't sought to stop NERIT airing Tsipras speech live
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.