Fresh off reneging on promises not to impose more austerity measures, Greek Prime Minister Antonis Samaras, the New Democracy Conservative leader, and his Deputy Prime Minister, PASOK Socialist chief Evangelos Venizelos are scheduled for another powwow on Oct. 30 to plan how to deal with the return of envoys from international lenders who are turning the screws for more reforms.
The pair last week said they would stand firm against more harsh conditions in return for continued loans, but now the administration is planning to make 500 million euros ($687.5 million) in social security cuts, but even that won’t be enough to fill a looming budget cap, officials from the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) have warned
Samaras and Venizelos reportedly will try to find some common ground with the Troika after reports the lenders will reject the government’s stopgap plan to fill the budget hole by going after pensioners while still ignoring pleas to chase down tax evaders.
The government disputes Troika estimates that there is a 2 billion euros ($2.75 billion) gap that must be filled with either more revenues or the equivalent in cuts, and said it can find other ways to make up the difference if it’s wrong as Samaras is eager to avoid yet more austerity after vowing he wouldn’t implement more.
Until the pair settle on a game plan, a draft social security bill that was due to be submitted to Parliament has now been held back and, according to reports, will not be considered again until after the Troika returns, now set for Nov. 4.
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