NEWS

Stournaras rebuffs reports of revenue shortfall

Finance Minister Yannis Stournaras on Friday rebuffed reports about a revenue shortfall and said that he and Prime Minister Antonis Samaras had continued preparatory talks ahead of the anticipated arrival of troika envoys in Athens in the middle of next week.

The talks at the Maximos Mansion on Friday, which were also attended by Bank of Greece Governor Giorgos Provopoulos, reportedly touched on the likely impact of the Cypriot banking crisis on Greek banks and on the progress of the recapitalization of cash-strapped Greek lenders as well as mergers. Stournaras told reporters that the recapitalization process was progressing and that there would be no extension.

Government officials also discussed other pending issues to be broached in negotiations with the troika including the downsizing of the civil service and a possible change to the way that an unpopular property tax is levied.