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| All the coalition government does, is express the interests of our creditors, Tsipras said (file photo) |
Alexis Tsipras has continued his assault on what he called the "three party memorandum government" during a speech given at the two day meeting of the European Left Party, which is being held in Athens.
The Syriza leader, who serves as second-in-command for the European Left Party, once again stated that additional austerity measures were on the way, of "at least 15 billion euros".
Speaking on the issue of privatisation and the latest measures that the government will announce, he said that "the program just doesn't compute, the equation has no solution and that means that if at the end of the next two years this government has consented to all the unreasonable demands of our creditors, then our already weakened and bankrupt country will voluntarily have to beg to exit the eurozone".
He also said that for all its promises of solutions, the Samaras-led coalition was little more than "a government that speaks of the interests of our creditors, as if they were actual targets expressing the whole of the continent".
Tsipras also saved some of his barbed comments for the Democratic Left, saying that he no longer expected anything from his former comrades, seeing as they identify "the memorandnum-friendly government programme as progressive". (AthensNews)
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http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_13340_13/07/2012_452046
Urgent moves to bolster cash flow in the market
Gov’t pushing for special tax zones
The government intends to get serious about boosting liquidity in the market, as, following Thursday’s announcement by the deputy development minister that the state will pay most of the value-added tax returns owed to businesses within the year, on Friday his superior, Costis Hatzidakis, announced a number of steps to help improve the economy’s cash flow.
After meeting with the head of the Central Union of Greek Chambers (KEEE), Constantinos Michalos, the development minister stated that “we can’t work miracles as far as the liquidity problem is concerned, but we can take substantial steps.”
Hatzidakis explained that the steps to be taken include targeted interventions in the investment incentives law, expected to have been made by the end of the summer, the simplification of procedures for the National Strategic Reference Framework so that it becomes more enterprise-friendly, and the activation of the National Fund for Entrepreneurship and Development (ETEAN).
The minister said that discussions with the European Commission to provide incentives to attract foreign investors who respect the local labor system are progressing.
The meeting with Michalos focused on so-called Special Economic Zones, which Hatzidakis said is an issue for discussion with the European Union. The talks will not be easy, he said, as the special tax status to apply there will constitute a comparative advantage for the country. “With these zones, we are not asking for money from our peers, but to get the chance to attract investment that respects the labor system. We need to get out of the deep swamp of recession,” he said.
Michalos proposed the creation of a special policing squad to focus on rooting out illegal trade practices. Hatzidakis said the proposal will be examined, adding that “there are legal provisions [to deal with illegal trade] but they have not produced the desired results.”
Michalos further suggested that creating an executive team of experts to apply the various structural reforms might be a good idea, as it would have an instant impact on the business climate.
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http://www.athensnews.gr/portal/11/56980
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| State funding depends on troika visit |
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 | 15 Jul 2012 |
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| With the government pressed for time, the troika's visit at the end of July is of vital importance (file photo) |
It is too early to say how Greece will meet its financing needs and discussions can only begin once a lenders' mission returns to Athens, two EU officials said on Saturday, but a senior policymaker has said there was no cause for concern.
Prior to the last elections, the Papadimos-fronted government said its cash reserves would be exhausted by the end of July, and a report on Saturday suggested the European Central Bank could consider allowing Greece to delay a bond payment in August.
Citing EU officials, Bloomberg also said the country might sell more three-month Treasury bills or seek bridge financing.
But one ECB source told Reuters that nothing could be discussed until a review of the country's finances is underway by the "troika" lenders from the ECB, the EU and the International Monetary Fund that is due to go to Athens on July 24.
"It is premature to have a discussion about this before the troika team has even returned to Athens, we are still in a fact-finding stage at the moment," said the source, who declined to be identified because of the sensitive nature of the talks.
Another EU official echoed that position, saying that while a solution would be found to ensure the new government meets its obligations and does not run out of money, nothing had been decided at this stage.
Jean-Claude Juncker, Luxembourg's prime minister who chairs euro zone finance ministers' meetings, has sought to reassure investors and Greece itself. When asked last week if the country would face financing problems, he said: "In the month of August, we will find a solution. There will be no problems."
He declined to give more details but added: "We agreed to discuss the situation in Greece again when the findings of the latest troika meeting are available." (Reuters)
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http://www.athensnews.gr/portal/9/56979
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| Polls show citizens want coalition to renegotiate |
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| 15 Jul 2012 |
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| The MRB poll showed 73.9 percent of those polled want Samaras to follow through with his renegotiation promises (Eurokinissi) |
Most citizens want the government to renegotiate the terms of its EU/IMF bailout regardless of the impact this stance would have on the country's future in the eurozone, a poll showed on Saturday.
An MRB poll for Sunday's Realnews showed that 73.9 percent of Greeks want the new coalition government to stick to its promises and demand a renegotiation of the bailout, even if this puts the country's euro membership at risk.
More than half of those polled said they believed Greece would stay in the euro zone, while 60.4 percent said international lenders would probably give the country more time to implement the deficit-cutting measures they have prescribed or ease the terms of the bailout.
Finance minister, Yannis Stournaras, met his euro zone counterparts last Monday in Brussels and promised to meet the terms of the existing financial rescue.
The government has conceded that it has fallen behind agreed targets and some euro zone officials have warned the country will get no further aid until it gets back on track with reforms. European officials, however, have also said the money will be found to keep Greece going until after inspectors revisit Athens later this month.
In another poll by Kapa Research for To Vima newspaper, a majority of those polled said the government should immediately renegotiate the bailout, while more than 90 percent said they opposed any further tax hikes or wage cuts.
The polls are among the first published since a re-run election on June 17, which gave New Democracy a slight lead over Syriza. Both surveys showed the Antonis Samaras-led party leading again if elections were held now.
Inspection
After a short initial visit to Athens to meet government officials, a mission of European and IMF officials will return on July 24 for more formal talks on the country's stuttering progress in hitting its targets, before deciding whether to disburse more aid.
Greece is expected to spell out measures worth 11.7 billion euros for 2013-2014 this week. The new government has said it will try to reverse or replace some of the budget cuts and reforms agreed in March as part of the country's second bailout.
Prime Minister Antonis Samaras' coalition government initially outlined an ambitious wish list of changes to modify the country's latest bailout programme but has struck a more conciliatory tone in recent days as it faces the prospect of running out of money without more aid.
At the Eurogroup meeting last Monday, finance minister Yannis Stournaras did not present his government's request for another two years to meet deficit targets, saying that would be done only when reform plans are back on track.
Instead, the government plans to implement 3 billion euros worth of previously-agreed measures to reduce its deficit this year, with European partners insisting that Greece should carry out its promises despite a deeper-than-expected recession and delays due to repeat elections.
"We are doing everything we can to meet the targets," deputy finance minister Christos Staikouras told Sunday'sEthnos newspaper. "Given the current circumstances, we won't need to take any extra measures this year." (Reuters)
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