Business | Daily | Tourist
INFORMATION SERVICES

ATHENS – How to close a big hole in the budget is the focus of talks between Greece’s government team and international lenders.

In the first set of negotiations between envoys from the troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) and the new coalition led by the Radical Left SYRIZA, it was found the country will have less-than-expected growth and must make more savings to meet a reduced primary surplus goal.

The talks are going on at the Hilton Hotel so that Greece can avoid having the troika in the Finance Ministry and gain a public relations victory, but it means voluminous documents and personnel must go to meet the envoys.

The initial dilemma is how to close a fiscal cap seen at about two billion euros in order to create a primary surplus of 1.5 percent of Gross Domestic Product, which can’t be done without cutting spending – at the same time SYRIZA said it would increase social benefits – or increasing revenues and taxes – at the same time SYRIZA said it would cut them.

The troika team said it doesn’t believe the optimistic forecast of 2.5 percent growth on the Greek side with the numbers showing that likely can’t happen.

 

Source: The National Herald
Share it now!
More
Who We Are

GQS acts as an “information representative” providing a variety of accurate and authoritative analytics and responses About Greece. Our field of expertise ranges from simple Daily Life questions related to Tourism or the History of Greece, up to large Business related projects such as Economic Research, Human Resources Selection or Real Estate Services.

Find out more

Contact Us

Are you interested in obtaining any kind of information about Greece?

Let us help you!

If your requirements go beyond simple services and you want specialized information, you will receive a detailed email for any charges.

  • Weather

    Locations:
    Athens
    November 19, 2017, 7:06 am
    Partly cloudy
    Partly cloudy
    11°C
    real feel: 10°C
    current pressure: 1010 mb
    humidity: 93%
    wind speed: 2 m/s NNW
    wind gusts: 2 m/s
    UV-Index: 0
    sunrise: 7:10 am
    sunset: 5:11 pm
     
  • Currency