Tsakalotos: Agreement on bailout review will be reached by Sunday

8 April 2016
613 Views

The Minister of Finance Euclid Tsakalotos told journalists on Thursday that the negotiations with the institutions over the bailout program review will carry on over the weekend, with a an agreement expected by Sunday afternoon.

Mr. Tsakalotos further explained that a final document will be agreed upon between all sides, which will delineate what is necessary in order for the first bailout program review to close. As such, the agreement that he estimated will be reached by Sunday will not necessarily unlock any further aid towards Greece.

As explained by the Finance Minister, there is a disagreement since Germany and other EU members want the IMF to be involved in the Greek bailout program. As such, he noted, agreements are needed with the Fund and European Commission, while the Eurogroup must also give a green light.

Pension reform negotiations continue

The negotiations over the critical pension system reform are set to continue, with government officials noting that there has been significant progress. The Greek side aims to save 200 million euros, by reducing supplementary pensions by up to 40% and introducing a 1,400-euro ‘safety net’ (for main and supplementary pensions).

The IMF on the other insists upon the ‘zero deficit’ clause, to which the Greek government counter proposes a sustainability clause. According to this, any deficits will be covered from selling off ETEA assets (worth 2.5 billion euros).

You may be interested

The Crusader castle of Chlemoutsi in the Peloponnese
GREECE
shares18 views
GREECE
shares18 views

The Crusader castle of Chlemoutsi in the Peloponnese

Panos - Jan 19, 2021

Imposing, and rich in history, Greece hosts countless medieval castles and fortresses. Each one has a different story to tell…Some…

Independent Panel says WHO and China failed to act fast in Covid-19 response
GREECE
shares32 views
GREECE
shares32 views

Independent Panel says WHO and China failed to act fast in Covid-19 response

Panos - Jan 19, 2021

The World Health Organization and Beijing could have acted faster when Covid-19 first surfaced in China, a group investigating the…

Cavusoglu openly threatens Greece with war in front of German Foreign Minister
GREECE
shares27 views
GREECE
shares27 views

Cavusoglu openly threatens Greece with war in front of German Foreign Minister

Panos - Jan 19, 2021

Greece and Turkey might have agreed to sit at the table for exploratory talks at the end of January, but…

Leave a Comment

Your email address will not be published.