Hard bargain for new measures

Finding that the government’s austerity program is not enough and that more measures need to be taken, the Troika did not hide the distress caused by their data showing a delay in producing tax revenue, as well as in the privatization processes which should have already been prepared.

During successive meetings held since Saturday morning at the Finance Ministry, which will continue throughout the weekend, the delegates of the lenders will examine the changes and revisions required in detail, so that they can form a comprehensive medium-term plan on Tuesday.

Based on the complaints and disagreements so far, it appears that the “grand bazaar” will take place on Wednesday, including important decisions relating to:

- Additional measures, their amount and time allocation in order to counter this year’s deficit deviations, but also to ensure a “safety cushion” for 2012 so that no other objectives are endangered until 2015.

-The commitment and consideration for the 2012-2013 loan extension.

-The Troika’s pressure on the closure of problematic public enterprises and government organizations, and the immediate removal of their employees.

- As indicated by well-informed sources, the deliberations pertaining to the loan’s fifth installment will be crucial, and any failures or disputes cannot but compromise it.