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Troika and Venizelos to Meet Again Today

Representatives of Greece’s international creditors (IMF, EU and ECB), who have been in Athens for the past week, continue to apply pressure for further guarantees from the Athens government on the faithful introduction of the Medium-Term Economic Programme agreed a year ago.
During yesterday’s meetings between Finance Minister Evangelos Venizelos and troika representatives, newspapers report that the two parties involved reached an initial agreement for the 2011-2012 period. For 2013-2014, which is also part of the Economic Plan, another meeting is planned between the minister and the troika. Moreover, to achieve the target of reducing the deficit to below 3% for 2014, the troika has requested additional measures which may be as much as 6 billion euros.
In addition, under discussion are also the troika’s requests concerning the liberalization of closed professions, the adoption of a new fiscal law, more interventions concerning the social and pension system, the merger or elimination of useless state agencies, and the reduction of state employees by at least 100,000 units for the next three years, in addition to the 30,000 who will be leaving due to the ”temporary suspension of work”. Media reports also claim that the troika is insisting on the elimination of the collective labour contract: a demand that the largest private sector union Gsee has called ”an extreme show of effrontery” by Greece’s creditors.

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