Greece to meet with troika officials

Date: Thursday 05 Jul 2012

Newly-elected Greek Prime Minister Antonis Samaras will meet for the first time with Troika officials in order to brief them on the current state of the new coalition government’s policy programme.

The inspectors representing Greece’s international creditors are the European Commission, the International Monetary Fund (IMF) and the European Central Bank (ECB).

Yannis Stournaras, who was sworn in on Thursday morning as Greece’s new Finance Minister, will also be meeting with the international envoys.

According to Greek online news page eKathimerini’s sources, Samaras is expected to push four proposals to the Troika: “the restriction of hirings in the civil service to one for every 10 departures, the transfer of civil servants to other parts of the public sector instead of their inclusion in a labour reserve scheme, the implementation of an ambitious programme for privatising state assets and the adoption of certain measures to relieve austerity-weary citizens such as allowing them to pay taxes in installments.”

These talks would be the first step in Greece’s attempt at renegotiating its bailout terms, though IMF Managing Director Christine Lagarde just yesterday said that “I am not in a negotiation or renegotiation mood at all.”

Indeed, eKathimerini reports that until a revised bailout agreement is signed, there will be no further disbursements from the ESM (European permanent rescue fund) to Greece.

As it stands, the Hellenic Republic’s next maturing bond date is August 20th and if the country does not receive the financial assistance it will be unable to make this payment.

The group of Eurozone Finance Ministers known as the Eurogroup is expected to discuss the Troika findings at their scheduled meeting next Monday.

JM

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