Envoys from Greece’s international lenders discussed with Finance Minister Yannis Stournaras on June 18 what they said were disturbing deficits in the funds of the health care provider EOPPY’s insurance system, a shortfall of some 1 billion euros ($1.34 billion) this year and 2.5 billion euros ($3.35 billion) for 2013-14.
There were no answers how it would be covered or made up although Prime Minister Antonis Samaras has flatly ruled out more austerity measures. That leaves him with a big problem, however, as lagging privatization efforts have also caused a 1 billion euro gap in expected revenues, leaving him with little choice but to make cuts elsewhere unless he can find money to make up the difference caused by the economy’s unsustainability.
During the meeting, representatives from the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) told Stournaras to find a solution without offering recommendations how, although there was growing speculation of yet around round of pay cuts, tax hikes and slashed pensions for Greeks who’ve already lost nearly half their disposable income to austerity.
Stournaras passed the ball to Samaras, who was to also meet with the Troika types who are dictating orders to him and are also expected to discuss the debacle of the sudden shutdown of the national broadcaster ERT to meet their demands to fire 2,000 workers but which brought unexpected resistance from his coalition partners, the PASOK Socialists and Democratic Left who had agreed to layoffs but said it shouldn’t apply to that agency.
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