Houliarakis and Velculescu butt heads at Euro Working Group

1 March 2016
846 Views

Monday’s Euro Working Group meeting did not result in a decision for the return of the institutions to Athens, with the European side and IMF disagreeing on major issues.

As such, it appears that the negotiations will continues on “the highest level”, with the return of the institutions to Athens likely to be determined at the upcoming Eurogroup on the 7th of March.

Reports suggest that the IMF was pressured over its stance and why it has operated outside of the program agreed in August 2015, as well as why it has revised its consolidation estimates, from 1% to 4% of the GDP.

Government sources reveal that the IMF Mission Chief to Greece Delia Velculescu had no response. When she was then asked by the Alternate Minister of Finances Giorgos Houliarakis if the IMF has considered what will happen if there is no bailout program, as a result of the IMF’s stance, she remained silent.

The IMF estimates that 2015 closed with a 0.6% primary deficit and 2% rate of recession. A senior Greek government official however claimed that the IMF estimates are “entirely arbitrary” and conceal ulterior motives. Furthermore, the official cited the European Commission estimates for 2015, which include a 0.2% primary surplus and marginal rate of recession.

You may be interested

The Real Star Wars Universe – The countries the global franchise was shot in (infographic)
WORLD
shares22 views
WORLD
shares22 views

The Real Star Wars Universe – The countries the global franchise was shot in (infographic)

Panos - Aug 03, 2021

May the fourth was a good day for fans of the Star Wars franchise and wordplay so, being both of…

Russia replaces the dollar with the ruble & national currencies on armaments programs
WORLD
shares28 views
WORLD
shares28 views

Russia replaces the dollar with the ruble & national currencies on armaments programs

Panos - Aug 03, 2021

According to a report by the Russian news agency TASS, Russia has stopped accepting payments in US dollars, for armament…

The Hellenic Navy tested the Camcopter S-100 UAS
DEFENCE
shares28 views
DEFENCE
shares28 views

The Hellenic Navy tested the Camcopter S-100 UAS

Panos - Aug 03, 2021

In an announcement, the Austrian company Schiebel, informed that the Hellenic Navy (HN) has completed the tests of the capabilities…

Leave a Comment

Your email address will not be published.