Money for Athens: Now it comes to the third package Help .
The Greek parliament has both adopted demanded by creditors reform packages, the euro zone finance ministers have given the green light: The detailed negotiations on a third utility – in space is a volume of more than 80 billion euros – can begin. This Friday representatives of all “institutions” (European Commission, European Central Bank, International Monetary Fund) and the euro bailout fund ESM will arrive in Athens – from the Troika therefore has become a Quadriga. But some experts since days are already in the Greek capital.
The fact that now employees of ESM are, for a simple reason: He should be in the context of a third program of the largest lenders. His chief Klaus Regling said recently, up to 50 billion euros loan he could take over. The remaining funds will come from the International Monetary Fund and from Greece itself. – About privatizations
Just is not fixed yet. This will be a task that must solve the experts of the creditors and the Greek administration in the now commencing detailed discussions. A very specific timetable has not yet been, but are fundamental themes known that need to be processed:
- A pension reform: The Greek pension system is based on the collapse in economic output due to the crisis the country is the most expensive in Europe. Too expensive, say not only the financiers. That’s why they demand that Greece it spends less money. In the negotiations should be discussed in detail how and when early retirement expire, the retirement age is increased and what happens to specific grants for poor pensioners
- A labor market reform. Also about the experts will negotiate. The Greek labor market is considered to be regulated – especially he favors workers strongly against unemployment. Just like the many young people find jobs and get, is also likely to be an important part of the reform program. Opportunities for companies to collective redundancies should be a specific topic
- product markets reforms:. Orientation here are according to the EU summit agreement, the recommendations of the OECD industrialized countries organization. It is about, among other things to shop opening times and closed professions
- restoration of the state budget. Greece needs to bring its budget okay, that he at least adjusted for debt servicing a surplus has (primary surplus) to the high debt slowly to be able to pay off. In connection should also – be talked about but a repeated rescheduling or a haircut – especially with the International Monetary Fund. This is a very controversial issue because Germany this rejects the present time and a nominal haircut as for legally not considered admissible
- An Administrative Reform:. The Greek parliament has just passed a law that trial speed and the number the processes intended to reduce. One problem, however, is still that posts in the administration are strongly occupied (to) along political lines. That should change.
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