Talks between Greece and Troika to resume Tuesday

13 December 2016
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Greek officials are scheduled to resume negotiations with the country’s creditors on Tuesday in an effort to exhaust any slim hopes of reaching a deal on the second review of the Greek bailout program. The key issues on the table of negotiations, as highlighted by the IMF’s Delia Velculescu during a talk in New York at a conference of the Capital Link are the weak competitiveness of the Greek economy, the non performing loans and the lagging fiscal performance. The meeting will be held in the wake of the IMF’s demands, presented in a post on the organisation’s website by European head Poul Thompsen, which demands the legislation of mass layoffs, more pensions cuts and a lower tax discount threshold. Amid this atmosphere, the Greek delegation, made up of Finance Minister Euclid Tsakalotos, and his Deputy George Chouliarakis, Labour Minister Efi Achtsioglou, Minister of Finance & Development, Dimitris Papadimitriou, and Minister of Environment & Energy George Stathakis will meet with the Declan Costello (European Commission), Francesco Drudi (European Central Bank-ECB), Nicola Giamarioli (ESM) and the IMF’s Delia Velculescu. While Greek PM Alexis Tsipras has criticised the IMF for pushing for austerity, the Fund responded by posting a document on its website, where Poul Thomsen claims it was the Greek government that agreed to adopt the 3.5% surplus target, adding that the fund is not to blame for Greece agreeing with its EU partners to achieve “such ambitious fiscal targets”.

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