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Greek Delegation Goes to Paris Talks with Low Expectations

Greek Delegation _ Paris
The Greek delegation will meet with the Troika of international lenders in Paris today to negotiate the reforms Athens will have to implement for the final review of the bailout program.
Analysts say that negotiations will be hard and Greece ‘s creditors will not back down on their demands. The Greek delegation left Athens with cautious optimism.
The meeting between the two sides will last two days and there is a possibility that a third day of talks will be added. The Greek side wants to come to a final agreement with the Troika so that their last visit in Athens will be a mere formality.
Before leaving for Paris, Finance Minister Gikas Hardouvelis had a six-hour meeting with Prime Minister Antonis Samaras and government Vice President Evangelos Venizelos. “I think we are on the right track. There are many hurdles but we will come up with a solution,” the latter said to the press after the meeting.
The best scenario for Greece would be for the Troika to agree so that the next tranche is disbursed. The worst case is that the creditors won’t be convinced by the progress of the required reforms and the bailout program will continue.
Greece ‘s lenders insist on the security funds issue, labor legislation, pensions and salaries in the public sector. But the main hurdle is the fiscal gap in the 2015 budget. Greece is obligated to close the gap, according to the lenders. After the last teleconference, they seemed adamant that Athens should implement all reforms demanded.
Analysts say that the Troika will not agree and that Greece will miss the December 8 Eurogroup. This is the worst case scenario but it is the most possible. At the same time, Greece will not discuss the next bailout program with the Troika since that can be done in 2015 and only the Eurogroup will decide on the program.

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