Greek Government Ready for a Tough Battle

Samaras11The Greek government is ready to negotiate with the Troika about the prerequisites for the next tranche of 1.1 billion, the debt and the fiscal gap.

The Greek government is determined not to take new fiscal measures since Greece has complied fully with their commitments. It is now the creditors turn to do the same.

According to the Greek newspaper “Ethnos Sunday,” Samaras is ready to negotiate in case that the creditors insist on a new Memorandum, and the imposition of further measures. As reported in the newspaper, the Greek Prime Minister is ready to go to Berlin, and discuss these issues with Chancellor Merkel.

At the same time, Yannis Stournaras says that the imposition of new measures is not logical. He claims that after four years of fiscal adjustment, the representatives of the creditors should treat Greece under the same conditions they treat other member states, in a similar bailout program.

Stournaras appeals for composure. “All sides must be reasonable and calm. Unreasonable requests can only cause harm, at a time when Greece regains the trust of the markets.” reported the Greek Minister of Finance in the newspaper.

Greece should prepare itself for a hellish negotiating period with international creditors on the country’s financial needs and its level of debt, Finance Minister Yannis Stournaras said on Sunday.
“Up to June it will be hell. Our lenders will review and judge everything,” Stournaras said to the newspaper To Vima.

He marked, that Greece should only take structural measures and not fiscal.

Based on the above, great emphasis will be placed on the increase of the tax revenue, the taxation of cigarettes and alcohol, and the expected revenue from the taxation of 50,000 persons that deposit their money abroad.

Troika is expected to return to Athens on October 28. However, it is providing that by then, the Greek Government will realize the prerequisites for the release of the new tranche.