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Greece and Creditors Agree on Second Package of Prior Actions

Greek ParliamentGreece and creditors have agreed on the second batch of prior actions required for the first bailout program review. The actions need to pass in Greek Parliament by December 8.
According to Kathimerini daily, the prior actions include:

  • Establishing an independent Secretariat of Public Revenue
  • Measures to tackle contraband fuel trade and trilateral VAT transactions
  • Implementation of a ‘claw back’ in hospitals and the downwards revision of prices in private diagnostic centers
  • Establish a committee that will review and approve the appointment of board members and presidents in Greek banks
  • Implement additional legislation on bankruptcy law for households
  • Address successfully the non performing loan issues
  • Adopt 10 additional OECD recommendations related to the alcohol and fuel markets
  • Reform the interministerial committee for regulated professions
  • Take measures to expedite community-funded projects in order to be completed within certain timeframes
  • Introduce legislation on spatial planning and forests
  • Privatize the independent power transmission operator ADMIE
  • Appoint an independent Task Force to make preparations and proposals for the structure and management of the new privatization fund and complete privatizations planned for the final quarter of 2015
  • Introduce legislation for a new, uniform pay scale in the public sector

The quartet of creditor representatives will arrive in Athens after the December 7 Eurogroup in order to overlook the implementation of the prior actions.

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