Sunday, March 29, 2015

UPDATE 1-Discussions are continuing between Brussels and Athens – Reuters

by Costas Pitas

ATHENS, March 29 (Reuters) – Greece and its international creditors discussed throughout the weekend of the reforms presented by Athens to unlock a new indispensable aid to avoid a default, but the tone of the statements is not the same on both sides.

If the Greek government was optimistic Sunday, the “Brussels Group” (European Commission, Fund International and European Central Bank monetary) expects more concrete commitments.

Greece will run out of money as soon as April 20 if it does not convince its European partners to pay additional funds, told Reuters last week a source close to the matter. (See)

To do this, in line with the agreement in principle snatched on February 20 with the finance ministers of the eurozone, Athens Friday presented a new list of reforms intended to make its economy more competitive and sustainable public finances.

The list submitted Friday by Athens to his interlocutors the Brussels group “has no character recession measures,” said a Greek official. It brings together, has he added, measures that should help increase the revenue of the state three billion euros this year without affecting the salaries of civil servants or financing of pensions.

It also evokes a primary budget surplus, excluding debt service, 1.5% of gross domestic product (GDP) in 2015, less than half the objective set out in the bailout package from the EU and the IMF, and a growth of 1.4%.

“Today’s talks with Brussels Group continued in a good climate of cooperation,” reported Sunday a Greek official. “We have agreed to implement a suitable policy which will increase the weight of the efforts of those who earn the least to those who earn the most.”

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