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No More Aid Expected for Greece Before March, Says Stournaras

Stournaras_EurogroupGreek Finance Minister Yannis Stournaras said on Monday that further rescue funding is unlikely to be approved before March as European officials meeting in Brussels pressed Athens to intensify its reform efforts.
Speaking to reporters after a Eurogroup meeting, Stournaras admitted there were differences over certain issues with the troika, but noted that the Greek side was presenting alternative proposals. During his address in the Eurogroup, Stournaras underlined that Greece has surpassed its fiscal targets for 2013 and that the budget’s primary surplus was expected to reach 830 million euros.
“This is a great achievement,” Stournaras said, adding that “it changed the whole picture. That’s why I have asked the troika’s representatives to reassess the whole situation.” The Greek FinMin noted that the main issue in negotiations with the troika – the fiscal gap – “has been resolved in a way that leaves no room for doubt.”
Commenting on the fiscal gap in 2015, Stournaras said that the Greek side has noted the sectors from which it expected savings, mostly related with a restructuring of the wider public sector. He stressed that the OECD’s recommendations for structural changes in Greece would be implemented by 80 pct.
Stournaras said that a discussion over the sustainability of the Greek debt will begin as soon as the Eurostat validated the figures for Greece ’s primary surplus, around April 24, while a discussion over a funding gap will begin as soon as the troika completes its current review.
(source: ana-mpa)

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