Friday September 19, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
EU turns up pressure on Greece

 Minister heralds quicker privatizations, reforms after EU officials express ‘annoyance, reservations’

Finance Minister Evangelos Venizelos on Tuesday heralded the faster implementation of a stalled privatization program and structural reforms as rumors swirled about the possible need for additional austerity measures following comments by top-ranking European Union officials who emphasized that Greece would not receive a sixth tranche of emergency loans unless it satisfies the demands of its creditors.

In a televised address, Venizelos said the first batch of state assets would be transferred into a privatization fund on Wednesday. The first wave of privatizations foresees the sale of stakes in the Public Gas Corporation (DEPA) and in Hellenic Petroleum (ELPE), an extension to the lease of Athens International Airport and an extension to the license of the Horse Racing Organization of Greece (ODIE).

Venizelos also set the scene for wage cuts and dismissals across the public sector by saying that an agreement between Greece and its creditors to put surplus staff in the civil service on labor standby status for 12 months, receiving just 60 percent of their basic salary, would apply to the broader public sector.

Earlier in the day, addressing fellow ministers during a cabinet meeting, Venizelos said that officials of the European Commission, European Central Bank and International Monetary Fund, known collectively as the troika, had expressed “annoyance and reservations about our willingness to push through with reforms because we have been dragging our feet.”

The minister added that the troika “have accepted the shortfall in revenue but not the delays in reforms.”

The minister’s comments followed statements by EU officials earlier in the day, notably those of German Finance Minister Wolfgang Schaeuble, who told a German parliamentary budget debate that Athens would not receive the next tranche of aid from foreign lenders - an 8-billion-euro installment upon which the country’s solvency depends - unless the troika issues a positive report on Greece’s efforts at reform and fiscal adjustment. “They must understand this in Greece, there is no scope for other decisions,” Schaeuble said in an apparent reference to attempts by Greek officials to renegotiate the goals of a multi-billion-euro bailout plan. According to sources, German Chancellor Angela Merkel also said that the 8-billion-euro tranche should be revoked if Greece fails to make good on pledges to its creditors.

ekathimerini.com , Tuesday September 6, 2011 (22:36)  
Police, protesters clash during rally to mark Fyssas killing
Prescription limit to rein in EOPYY spending
Prosecutor says six guilty in trial of terror group
Minister vows to proceed with civil servant evaluation after court ruling
Local lenders draw 5 bln for loans to SMEs
Greek banks drew liquidity of some 5 billion euros from the European Central Bank’s TLTRO program aimed at channeling funding to small and medium-sized enterprises in the first auction compl...
Tourism drives jobless rate down
The growth of tourism this year has had a clear impact on unemployment in Greece as the jobless rate announced on Thursday by the Hellenic Statistical Authority (ELSTAT) for the second quart...
Inside Business
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their country’s independence or whether they will remain citizens of the “United Kingdom of Great Britain and Northern Ireland.” What was alread...
COMMENTARY
Greek society’s and lenders’ fatigue
The issue of early elections continues to dog the coalition government despite all the official denials. That the administration is losing its cool is obvious. The political discourse has no...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Triumph for PAOK, historic result for Asteras in Europa League
2. Local lenders draw 5 bln for loans to SMEs
3. Tourism drives jobless rate down
4. Hardouvelis asks for some room to breathe
5. Athens could miss out on last bailout installment
6. Police, protesters clash during rally to mark Fyssas killing
more news
Today
This Week
1. SYRIZA ahead of ND, new opinion poll shows
2. Extradited Greek couple to face magistrate in Athens
3. National Bank of Greece said to pick advisers for Turkish sale
4. Man's charred remains retrieved from vehicle following accident
5. Unemployment at 26.6 percent in second quarter of 2014
6. Bank of Cyprus sells UK loan portfolio
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Democracy under Pressure | Live Streaming
6. SYRIZA spokesman suggests gov't sought to stop NERIT airing Tsipras speech live
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.