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23 Sep 2013
Troika back in Greece for fresh bailout review
FXstreet.com (Barcelona) - The EU, ECB and IMF officials returned to Athens on Sunday for a fresh review of the Greek financial program. A positive outcome of the international lenders' review will allow for the disbursement of the next tranche of aid worth €1 billion euros.
During their first meeting with Greek Finance Minister Yannis Stournaras, Troika officials discussed various issues, such as the 2013 budget. They have acknowledged recent improvements in the country's economy, with GDP expected to have increased in the second quarter of the year. This would be the first quarter-on-quarter growth since the onset of the debt crisis.
Officials gathered in Athens also spoke of a gradual easing of the harsh austerity measures, but there is still the issue of Greece needing a third rescue package. According to IMF's estimates that the program should be comprised of a 4.4 billion euro payment in 2014 and a 6.5 billion payment in 2015.
Meanwhile, Greek public sector union Adedy has called for a two day strike on Tuesday and Wednesday to protest the civil servant layoffs, required by the Troika in exchange for the bailout.
During their first meeting with Greek Finance Minister Yannis Stournaras, Troika officials discussed various issues, such as the 2013 budget. They have acknowledged recent improvements in the country's economy, with GDP expected to have increased in the second quarter of the year. This would be the first quarter-on-quarter growth since the onset of the debt crisis.
Officials gathered in Athens also spoke of a gradual easing of the harsh austerity measures, but there is still the issue of Greece needing a third rescue package. According to IMF's estimates that the program should be comprised of a 4.4 billion euro payment in 2014 and a 6.5 billion payment in 2015.
Meanwhile, Greek public sector union Adedy has called for a two day strike on Tuesday and Wednesday to protest the civil servant layoffs, required by the Troika in exchange for the bailout.
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