George Papandreou presented on Friday his proposal titled “A Road Map for Greece of Creation” to the Cabinet, but as he made crystal clear, the context of this proposal will be published after Easter time.
Greek PM referred persistently to the phrase “after Easter”, which fuelled speculation for an immediate cabinet shuffle, so that the new cabinet could utilize Easter break to prepare the schedule of objectives.
This is considered very likely since late Thursday, while a mild approach consists that George Papandreou chose not to burden the pre-Easter sentiment ahead of the arrival of Greek lawmakers in their constituencies.
The Greek Prime Minister, has categorically denied the insistent rumours recent days regarding early elections and debt restructuring, two potential scenarios concerning the economic crisis.
The announcement offers little to appease financial markets nervous over a possible debt restructuring.
Government officials had said today’s announcement would send a message to investors that Greece was determined to meet its targets. But Mr Papandreou gave little initial detail on how he would achieve deficit cuts and sell-offs.
‘There appears to be very little new in his statement. It is disappointing given previous speculation he was about to announce some significant changes,’ said Chris Pryce, analyst at Fitch Ratings.
‘The prime minister’s speech brought no clarity, uncertainty remains. What the market would have liked was a specific timetable for the part of privatisations that refer to 2011, this should have been spelled out,’ said Theodore Krintas, head of wealth management at Attica Bank.
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