Greece’s international lenders require tough measures to ensure the country’s willingness to proceed with bold decisions.
The negotiations continued intensively over the weekend, while Finance Minister Giorgos Papakonstantinou is leaving to attend Eurogroup meeting. The requirements for the 5th aid tranche and the new aid loan are many and major, while the sentiment is intense.
According to sources, the troika asks that €6b of the €26b of the new package should be raised within 2011. It is reported very displeased by Greek government’s laches in implementing the measures and budget deficit, while it has not yet approved the release of the 5th tranche.
It demands a medium-term program that will not just outline measures, but Greece will pledge to specific interventions with a detailed schedule. It also asks for immediate announcements of measures that will pass within May, possibly with increased majority (180 votes), before the troika announces its review for Greece’s progress.
(source: capital)
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