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> Economy

Greece prepares to bid farewell to Troika

The latest round of negotiations began on Tuesday and the government is doing all it can to exit from surveillance

Newsroom October 1 07:29

The troika of Greece’s international creditors from the EU, European Central Bank and International Monetary Funds are in Greece for the fifth review of the country’s progress on economic reforms. With primary surplus steadily above target, there is hope that this could be the final audit and an exit from bailout loans.

Greek Finance Minister Gikas Hardouvelis is steering talks towards showing foreign creditors that the country can return to a sense of normalcy. The Greek government remains hopeful for troika’s approval of a series of measures announced to give tax relief for the first time after years of austerity.

Wednesday’s schedule:

11 a.m. – The troika representatives, including European Central Bank Mission Chief for Greece Klaus Masuch, will meet with Development Minister Nikos Dendias. Discussions will focus on the restructuring of the private sector, the new bankruptcy code and regulations for nonperforming “red loans” as well as issues of viability which will determine whether they can come under a favourable regulation being drawn up by the ministry.

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3 p.m. – Administrative Reform and E-Governance Minister Kyriakos Mitsotakis is due to present the government’s new salary chart for the public sector, the progress of an evaluations scheme and the government’s dismissals policy.

Thursday’s schedule:

A meeting with Labour, Social Security and Welfare Minister Yiannis to discuss mass dismissals from the private sector that is considered a contentious issue.

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