Stournaras: Νο deal with Troika by the end of January

Greek FinMin, Yiannis Stornaras admitted in a television  interview (www.skai.gr) that sealing an agreement with the troika by the end of January is rather challenging but suggested that Greece considers the delay favourable since it will be able to incorporate the positive December data. According to Kathimerini, the negotiations are likely to conclude in February…

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Prior actions required for loan tranche disbursement

According to a press report (Kathimerini), ten prior actions are required for the Greece to the disbursement of the next loan tranche. Namely: (1) revision of the privatizations programme; target revised to EUR10bn by 2016 and EUR25bn by 2020 from EUR50bn previously, (2) tax reforms: appointment of auditors, (3) new medium-term fiscal adjustment programme for…

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Extension drives to fiscal gap

FinMin Yannis Stournaras told Reuters that “we estimate the funding gap that would be created if we get the two-year extension at €13-15bn” adding that the fiscal gap to reach its 2013-14 targets remained at €13.5bn, which most likely refers to the recently discussed cost cutting measures of €11.5bn and additional revenues of €2bn. According…

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