Wednesday Jan 28, 2015 Search
Weather | Athens
13o C
7o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Omnibus bill set to clear the air in talks with troika

 Draft law will include OECD proposals
Once Parliament has passed the omnibus bill the government is putting together, an agreement on several key issues would be made easier so that the troika can complete its latest inspection.

By Sotiris Nikas

The government intends to prepare an omnibus bill that will include all the prior actions required for the disbursement of outstanding bailout installments within March.

The chief inspectors of the country’s creditors – known as the troika – are not expected in Athens before the end of next week, with the most likely date for their arrival being February 10. Even that date may not prove correct, though, as the troika might come back to Greece after the February 17 Eurogroup meeting unless the government shows some tangible progress on the obligations it has undertaken.

The Finance Ministry aspires to strike a political agreement in next month’s Eurogroup concerning the completion of negotiations that remain open since September. Ministry officials say that the submission of an omnibus bill must follow, allowing for the installment to come in March – it will likely be a double tranche, totalling 11 billion euros. What this means in practical terms is that the bill must become law by March 10, when the Eurogroup holds its next meeting.

In that omnibus bill the government intends to incorporate most of the proposals by the Organization for Economic Cooperation and Development (OECD) for improving competition conditions in the Greek economy, after the troika increased the pressure on Athens to implement the so-called OECD “toolkit” so that talks can proceed. Both ministry and troika officials acknowledge that if the organization’s proposals are implemented an agreement on other issues would be “much easier” for the completion of the current monitoring process.

Troika sources say they have not yet received a response from the government on what it intends to do regarding a demand by creditors for the majority of the OECD’s proposals to be adopted – the very delay that keeps pushing back the arrival of the troika in Athens.

The other issues on which an agreement could be reached faster after the omnibus bill is passed concern the fiscal gaps of 2014 and 2015 and the reduction of the social security contribution by employers. Athens and the troika are in disagreement about the fiscal gap of 2015, as the government estimates it at no more than 1 billion euros, while the lenders put it between 2 and 3 billion euros.

ekathimerini.com , Friday Jan 31, 2014 (21:13)  
Greek tourism rise outshines global gains
Dritsas announces cancellation of OLP sale
Electric shock in energy industry
Property levies inflict serious blow to housing market
Police looking for two more suspects in Xeros case
Two people arrested last week on suspicion of being accomplices of Savvas Xeros and assisting him in plans to help members of the Conspiracy of the Cells of Fire terrorist group escape from ...
Tsipras unveils anti-austerity cabinet
Greece’s new SYRIZA-led coalition government was sworn in on Tuesday with economist Yanis Varoufakis taking the crucial post of finance minister in a slimmer cabinet including members of the...
Inside News
SOCCER
PAOK strikes deal with Portugal´s Ricardo Costa
PAOK announced on Tuesday its agreement with Portuguese international defender Ricardo Costa. The Thessaloniki club added that the player is expected on Wednesday to undergo a medical test a...
BASKETBALL
Basket League favorites survive challenges on the road
PAOK consolidated its position in the top three of the Basket League with a triumph at AGO Rethymnou on Saturday, while Olympiakos and Panathinaikos emerged victorious from their tough away ...
Inside Sports
COMMENTARY
Greece, where everyone´s a winner
Whether a tradition or simply a bad habit, we have trouble finding a loser in any electoral race, a party leader who will openly concede defeat without trying to mitigate it with excuses. Th...
EDITORIAL
Political faux pas
Democracies have rules and institutions that must be respected and served by all who represent them. Most people can appreciate that politicians who have worked hard for the past two-and-a-h...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. PAOK strikes deal with Portugal´s Ricardo Costa
2. Greek tourism rise outshines global gains
3. Dritsas announces cancellation of OLP sale
4. Electric shock in energy industry
5. Property levies inflict serious blow to housing market
6. Uncertainty on new tax system
more news
Today
This Week
1. Greek Elections 2015: Forming a government, Part 1 | LIVE
2. Greece, where everyone's a winner
3. Three days of mourning declared over death of two Greek pilots in Spain
4. Greek uncertainty weighs on low-rated eurozone bonds
5. Political faux pas
6. Europe stocks fall from seven-year high; Greek bonds drop
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. Greeks fork out nearly 5 pct of their incomes on telecom services
5. Unsupervised voting
6. QE exclusion a ‘de facto Grexit’
Advertiser Link
SMART WATER Project: Outputs and conclusions of the final conference
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.