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> Economy

Troika delegation arrives on Monday

The troika's arrival on September 29 could mark their "last tango" in Athens in crucial talks with the Finance Ministry

Newsroom September 23 10:00

The troika of Greece’s international creditors begin crucial meetings with the Finance Ministry in Athens on Tuesday, September 30. Representatives of the troika taking part in the talks are the European Central Bank’s (ECB) representative Klaus Masuch, Richi Goyal from the International Monetary Fund (IMF) and European Commission (EC) economist Declan Costello from the Directorate General for Economic and Financial Affairs. Delegates are to meet with Greek Finance Minister Gikas Hardouvelis in the first round of talks since their Paris meeting.

This meeting could be, according to the Greek press, “the last tango” in Athens as the Greek government’s policies are  now aligned with those of Brussels.

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Two obstacles that need to be overcome before the IMF leaves Greece –

Germany had called for the involvement of the IMF in the Greek rescue plan and while the group helped give know-how it placed a disproportionately low amount of capital for Greece’s rescue. The meeting between Greek Prime Minister Antonis Samaras and German Chancellor Angela Merkel is considered crucial for the IMF’s exit from Greece.

Troika needs to validate the height of Greek funding needs for 2015 so that European partners can give support in covering the gap left by the IMF. European governments won’t be able to agree on funding for Greece if the void in Greek funds isn’t clarified. So far there are merely estimations that range from 12 billion to 30 billion euros.

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