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FT: The Greek Government Defies Troika

Greece defying TroikaFor the first time, The Financial Times noticed a shift in Greece’s stance against troika since the beginning of the rescue program. Greece appeared tougher after submitting the 2014 budget without the approval of the lenders and “has become a source of increasing worry and frustration for EU officials.”
According to the article published in the FT “The government wants to avoid implementing the four separate measures it has already signed up to: lifting a ban on home foreclosures, shutting a loss-making state arms manufacturer, introducing a broad-based real estate tax and allowing mass dismissals of workers in private companies.”
According to the same report, the government’s decision to proceed with the submission and budget debate defies the new Eurozone rule, which requires Member States to submit draft budgets to Brussels for approval before their adoption by parliaments. However, a Greek official attempted to dispel the frustration, stating that: “We don’t see any problem with revising the budget next year, if necessary.”
The Financial Times also made reference to a recent statement by Greek Deputy Prime Minister, Evangelos Venizelos, who said that “we want a real, not just a rhetorical recognition of the sacrifices of the Greek people over the past few years,” commenting that behind this statement lurks the fear of PASOK’s dissolution, a possibility that would probably cause the government to collapse.

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