NEWS

Troika report not due ‘until October’

A report on Greece’s progress in implementing economic reforms by the country’s international creditors — the European Commission, European Central Bank and International Monetary Fund, or the troika — will not be ready until early October, according to a report in Germany’s Rheinische Post.

The German daily quotes an unidentified EC official as saying that the troika’s report will not be out until «early October at the earliest,» citing delays by the Greek government in moving forward with an ambitious privatization program. The source quoted by Rheinische Post does not determine whether the troika’s report would be issued ahead of a eurozone finance ministers’ summit scheduled for October 8 ahead. The Greek problem was to be discussed by ministers there ahead of an EU leaders’ summit planned for October 18.

“The plans for privatization will be implementable at the earliest within the month of September,» the German daily quoted the official as saying.

Costas Mitropoulos, who resigned last month from the Hellenic Republic Asset Development Fund, has repeatedly said that a lack of political will has hampered the progress of privatizations.

Prime Minister Antonis Samaras, for his part, has insisted that privatizations are a key to boosting growth in Greece. The premier, who is back in Athens following visits to Berlin and Paris, claimed on Sunday that his meetings with German Chancellor Angela Merkel and French President Francois Hollande will «help reverse the negative image of Greece abroad.» Samaras is to brief his coalition partners — socialist PASOK leader Evangelos Venizelos and Democratic Left chief Fotis Kouvelis — on his meetings with Merkel, Hollande and Eurogroup Chairman Jean-Claude Juncker before talks turn to efforts to come up with some 11.5 billion euros in measures for 2013 and 2014 demanded by creditros, plus an addditional 2 billion euros in measures to cover a shortfall expected to result from reduced tax revenues and social security contributions.