Troika is not asking for new measures but is thoroughly checking the primary surplus
24.02.2014
22:02
The Greek government starts the negotiation with great confidence - Six pending issues
From the first meeting with the economic team, troika showed that it is convinced for the existense of a primary surplus but questions what its final hight for 2013, whether it will be sustainable and what will be its effect in 2014, to achieve the primary surplus target of 1.5% of GDP at the end of this year.
The Greek government seems to be discussing the final amount of the surplus. A member of the economic team said that “there is great confidence for the primary surplus of 2013.” The same source ruled out that it may take additional measures since “we believe that the better performance of 2013 will have a positive effect on the financial figures of 2014 and from November we keep saying that there is no fiscal gap and supplementary budget, based on the performance of 2013.”
Troika also worries about the decisions of the courts that eliminate measures included in the memorandum.
The auditors did not ask for collective layoffs
More than the financial issues, however, troika appeared interested in the structural and labor measures.
To the relief of the Greek government that wishes the main issues be addressed after the elections, "they are not pressing directly for collective layoffs."
The Greek government seems to be discussing the final amount of the surplus. A member of the economic team said that “there is great confidence for the primary surplus of 2013.” The same source ruled out that it may take additional measures since “we believe that the better performance of 2013 will have a positive effect on the financial figures of 2014 and from November we keep saying that there is no fiscal gap and supplementary budget, based on the performance of 2013.”
Troika also worries about the decisions of the courts that eliminate measures included in the memorandum.
The auditors did not ask for collective layoffs
More than the financial issues, however, troika appeared interested in the structural and labor measures.
To the relief of the Greek government that wishes the main issues be addressed after the elections, "they are not pressing directly for collective layoffs."
The six issues of the new negotiation are:
- labor issues in general, reduction of social security contributions by 3.9% and changes in tax, for which troika asked to study the new tax bill
- the OECD list of structural changes in the market
- changes in public administration based on the plan for mobility and layoffs of 2014
- banking issues which will be discussed with BoG director Provopoulos
- the draft law to control government spending and the implementation of the memorandum measures
The first round of meetings with officials of all ministries for all these issues is expected to be completed by Thursday.
- labor issues in general, reduction of social security contributions by 3.9% and changes in tax, for which troika asked to study the new tax bill
- the OECD list of structural changes in the market
- changes in public administration based on the plan for mobility and layoffs of 2014
- banking issues which will be discussed with BoG director Provopoulos
- the draft law to control government spending and the implementation of the memorandum measures
The first round of meetings with officials of all ministries for all these issues is expected to be completed by Thursday.
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