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Greek Gov't Leaders to Set Greeces "Red Lines" on Wednesday

troika_out_grafitiThis Wednesday, one day before the  summit meeting in Brussels, Greek Prime Minister Antonis Samaras and PASOK leader and government’s vice president, Evangelos Venizelos will have a face to face conversation in order to set out Greece’s “red lines,” while anticipating the crucial negotiations with Troika. Troika’s officials will arrive in Athens on October 28th, the day Greeks celebrate the anniversary of Oxi day, and are expected to press for further strict measures and cuts.

Greece’s two partite coalition government leaders, will try to draw up a policy blue print that will balance between the denial of the government to take new strict fiscal measures, and the new Troika’s demands. It is important for the two coalition parties to have a joint stance, in order to face troika’s demands.
According to troika sources in Brussels, it is not true, that Greece’s creditors are planning to press for “additional horizontal cuts” but also, they are cautious over government’s ambitious target for primary surplus next year”.
Greek coalition partners have agreed that further “horizontal” cuts to salaries and pensions cannot be imposed on Greek society, reeling more than three years of austerity. This has not only been made crystal clear by both Samaras and Venizelos, but also by ministers and deputies of Greek coalition government.
These statements are in response to reports that troika wants another 2 billion euro in cuts and the ECB’s refusal to discuss the option of rolling over Greek bonds to cover a financing gap next year. The Greek side is also going to stress, that in accordance with a Eurogroup agreement, if Greece achieves primary surplus this year (something that it is already in track) talks on debt relief could be held.
The ambitious forecast of the Greek government that foresees a primary surplus for 2014, is something, that according to Brussels sources, our creditors openly question. In addition they want Greece to “honor the agreement and achieve the goals that have been already set, at all costs.”

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