Greece-Troika Talks Get Rough Start

troika_episodiaEnvoys from Greece’s international lenders were heckled by protesters who screamed “You’re murderers,” at them as they left the finance ministry and as negotiations with the government were delayed amid reports of a deep division between the two sides.

The first day of meetings on April 4 did not go well, with Finance Minister Yiannis Stournaras reportedly unable to make any headway in the government’s stance that it doesn’t want to fire 25,000 workers this year as a major stumbling block, according to Kathimerini and ENet.

He met with International Monetary Fund mission chief to Greece Poul Thomsen, the European Union’s Matthias Morse and the European Central Bank’s Klaus Masuch, who make up the Troika which is putting up $325 billion in two bailouts but has insisted on harsh austerity measures in return.

After leaving, Stouraras told reporters that all the issues “are on the table” and added that, “Nothing will be closed unless everything is closed,” referring to unresolved issues, such as whether the government will have a unified single property tax to replace two it now uses, one of which is attached to electric bills under threat of having power turned off for non-payment.

The other key issue is bank recapitalization and the Troika’s opposition to a planned merger of the National Bank and Eurobank, which would create the nation’s largest lender and which the envoys feel would be too big compared to the country’s Gross Domestic Product (GDP.)

On the eve of the inspectors’ arrival, the coalition party leaders appeared to reach a compromise on the levy continuing until the end of the year to be raised through electricity bill payments before handing the duty over to tax officers next year. The Troika has delayed release of a 2.8 billion euros ($3.5 billion) installment that was due in March until it’s satisfied with the lagging pace of some reforms.

“The negotiations for the next loan installments are still very difficult,” said Stournaras. “I can assure you that things are not simple at all.”




  1. We have all seen the outcome of negotiations between the corrupt-slavish-Greek governing coalition and the Troika many times before. Every single time the corrupt Greek governing coalition always agrees to the demands of the Troika. They go in for 3 or 4 days of so called “tough negotiations” and in the end they always accept the Troika demands.

    At best the Troika throws the corrupt New Democracy-PASOK-DIMAR governing coalition some petty crumbs so they can act as though they achieved some concessions from the Troika.

    There is no doubt that Greece has a very inefficient and bloated public sector that and this needs to be addressed. However it is hard to believe that Greece’s massive public debt was all spent on salaries of public servants and pensions. Most of the money was spent on overpriced (at several times market rates) infrastructure projects and arms deals.

    It is highly likely, and this has been shown on some occasions that German companies (e.g. Siemens) bribed corrupt Greek politicians to give them contracts to build infrastructure at hugely inflated prices. An audit will find that this is where and how most of the money was spent. The Greek people can not be blamed for these corrupt German private sector-Greek government criiminal endeavours. Sadly the international media, and Northern European governments, and well as major Zionist controlled financial centres in New York (Wall Street), City of London, and Frankfurt all work together to feed the people of Northern Europe and the world the oversimplified story that all this debt was wracked up by lazy Greek citizens. No no no, most of the debt was accummulated in corrupt deals between Northern European companies, and Greek politicians as explained above.
    One must also consider that there are between 1.5 million to 3 million illegal immigrants in Greece. None of these illegal immigrants pay any taxes, however they are all entitled to free medical care (at Greek tax payer expense) and free schooling for their children (at Greek tax payer expense) all in a nation of only 11 million citizens!
    Here is a great video for readers of this article to reference regards the real racist Zionist Jewish criminals that control the global fiat money system, the corrupt fractional reserve system!

  2. I am surprised with protesters screaming at Troika and not at our corrupt Greek politicians who did looted the country’s wealth and bankrupt it’s economy…This shows how Greek people’s mentality is but also the way they think…No one forced our Greek politicinas to become corrupt…No one forced them to loot it’s wealth, they did it on their own protected by the law in which they created and voted for…They should pay for what they did to our country…

  3. The whole EU idea is a pathetic joke on Greece and Cyprus where the Germans and
    their cronies like IMF, Olli Rehn and van Rompuy are gutting poorer counties
    without a care…
    The EU Commission must be brought down as well as the
    corrupt politicians helping them!

  4. I am also amazed how Greeks could even vote for the same 2 corrupt Parties of PASOK and ND after all the Scandals, bribery by Siemens and all the massive theft they have gotten away with for 37 years… and bringing the country down. Amazing!

  5. They got away with murder because they are immune from prosecution but also Greeks do not have any sense of understanding to politics…They believe what politicians says because they have no way of analyzing issues not like our European neighbors…This is the Greek way or should be “Made in Greece”…Having said that, other countries are corrupt too but not at the level Greece is…Greece is number (1) in Europe in corruption and there is no way to curb that even with justice since there is no sense of justice…

  6. Public sector is untouched, why??? Because it is the backbone of all politicians and the government as well…Greece will not prosper under this government and Samara will not implement all changes from fears of losing power…Things are very simple, they play with people’s minds all the time to gain more time in order to remain in power…Unfortunately, my fellow Greeks do not understand that and when they do it will be too late…

  7. I am amazed that morons like you would support treasonous communists that support Skopians. Of course if you are not really Greek, Mr. Paul Johnston PhD, that would explain alot.

  8. No, you are the moron Alex the Arse. As usual you fail to respond to the comment and bring in FYROM or some other idiotic unrelated remark. I assume you think that (a) Successive governments haven’t been corrupt or touched by scandals? (b) Siemens didn’t happen (It was Skopian double dealing, wasn’t it? (c) Successive governments haven’t stolen, have they?

    Go. Try to answer these points and deny them Alex the Arse instead of ranting on about something unrelated to this post.

    You can’t do it, can you? Thought not…

  9. And it was worldarts, Alex the Arse, not Mr Paul Johnston PhD. Read before you post and do us all a favor, batter still, don’t post at all as you always say the same thing anyway.

  10. Whether the public sector is inept or not, it has always been smaller than not only the rest of the eurozone on a per capita basis, but also the USA. The public sector was never a cause of Greece’s problems. It was the vendor-financing scam with multinationals that racked up 150 billion of debt for military weaponry in a decade. The reason Stournaras is pushing against firing them is because unemployment is already ridiculously high (Greece won’t recover), the fired do not produce a savings (they go on pension and unemployment), and because austerity is killing well run businesses.

  11. @9f9a3cc54f2b9a197f44d3188004ad1a:disqus Have an orange, have a kitkat…Do you get my point???

  12. I think the Greeks are finally getting it after seeing this absurd Farce of an Inquiry being manipulated bady by the criminal gang from PASOK & ND!