Thursday Jul 24, 2014 Search
Weather | Athens
32o C
23o 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)  
PPC to look into death of disabled customer
Boutaris plans Islamic art museum for Thessaloniki
PM, Venizelos meet as Administrative Reform Ministry eases stance on evaluation
Activists launch flotilla against Syria chemicals
IMF insists on eurozone lightening Greece’s debt
The International Monetary Fund insists that Greece’s debt needs to be restructured and is waiting for the issue to be discussed this fall in the context of the Greek economy’s next assessme...
Investors buy into possible rating upgrade
The prospects of a Greek sovereign debt rating upgrade by Moody’s next Friday pushed most local stocks higher on Thursday on improved, but still not satisfactory, turnover. The Athens Exchan...
Inside Business
TRACK & FIELD
Athens, the Marathon capital of the world for good
Paco Borao, the man who restored Athens as the Marathon capital of the world with the establishment at the Olympic Sports Center of the headquarters of the International Association of Marat...
TRACK & FIELD
Pole vault record on same day as three doping cases
Greek track and field had a mixed weekend, as on the same day as Katerina Stefanidi matched the national record in pole vault as well as the leading result in Europe so far this season, thre...
Inside Sports
COMMENTARY
When evaluation is seen as useless
The reactions toward the government’s plans for an evaluation of public sector workers are completely unsurprising. Civil servants – and not just the unions that represent them – abhor the m...
EDITORIAL
Playing the good guy
There is a part of the government that is striving to fulfill the commitments that Greece has undertaken toward its foreign creditors, most of which pertain to reforms that are absolutely es...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. IMF insists on eurozone lightening Greece’s debt
2. Investors buy into possible rating upgrade
3. PPC to look into death of disabled customer
4. Boutaris plans Islamic art museum for Thessaloniki
5. PM, Venizelos meet as Administrative Reform Ministry eases stance on evaluation
6. Activists launch flotilla against Syria chemicals
more news
Today
This Week
1. Quadriplegic woman on life support 'dies due to unpaid power bills'
2. Democracy 'retreated' during crisis, says Papoulias
3. Efforts continue on Crete to find 'Sifis' the crocodile
4. Family of deceased woman on life support says application for 'special status' had been filed with PPC
5. Medical assistance for Acropolis visitors
6. Presidential election will not lead to snap elections, Samaras tells ND deputies
Today
This Week
1. The cost of excellence
2. Ex-Credit Suisse banker taps lesson for Greek rebound
3. Greece seen in third bailout as bonds not enough, economists say
4. Climber dies in Mount Olympus fall
5. Greek banks able to tap investors after stress tests, HFSF Says
6. Greek sovereign debt at 174.1 percent of GDP in first quarter
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.