ATHENS – Greek Prime Minister Antonis Samaras’ hopes of getting the country’s international lenders to return and finish a review before a critical Eurozone meeting on Dec. 8 have reportedly hit a roadblock because the coalition government has failed to complete critical reforms.
Despite reversing a just-passed law giving indebted Greeks up to 100 installments to pay what they owe to the state, the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) still isn’t satisfied with the lack of progress on some 700 undone measures it insisted upon in return for two bailouts.
An EU official with knowledge of Greece’s negotiations with the Troika told Kathimerini that there are still substantial differences to be resolved between the two sides before inspectors can return to Athens.
The government was keen to have the differences settled before the meeting of Eurozone finance chiefs next month where Athens will seek approval of a plan for an early exit from its deal with the Troika and to get a precautionary credit line as a buffer.
The Finance Ministry has entered the last phase of drafting the final version of the 2015 national budget but the fiscal gap for next year remains a sticking point with the Troika, which puts it at 3.6 billion euros, far more than the government. An agreement must be reached before the budget is submitted on Nov. 21.
The budget will reportedly set a budget primary surplus target of 3 percent of Gross Domestic Product (GDP,) which will be achieved with the help of changes at public organizations that will save between 500 million and 1 billion euros.
The post Greece’s Troika Talks Snag, Lenders Hang Tough On Reforms appeared first on The National Herald.Source: The National Herald