The prospect of an agreement between Greece and its lenders at the April 24 Eurogroup in Riga has virtually disappeared and it looks likely that any negotiations over a package of reforms that could unlock funding will carry over into May.
Greece enters a crucial week in its negotiations with its lenders, with Athens expected to produce a revised list of reforms within the next few days in order for there to be a chance of eurozone finance ministers to give their approval on the April 24 Eurogroup.
Greece’s budget execution showed the 3-month primary surplus rose to 1.74 billion, up 12.6 percent, while the 2-month underperformance of 173 million turned to an over-performance of 1.62 billion, according to the Finance Ministry (MoF) preliminary budget bulletin published today.
Lower income groups in Greece saw their tax burden increase by 337.7 percent from 2008 to 2012, compared to a 9 percent rise for higher income groups, a new report on the impact of the crisis and austerity policies on incomes, inequality and poverty in Greece has found.
Austerity measures adopted in Greece within the context of the economic crisis have in many instances conflicted with the state’s obligation to ensure protection of fundamental rights, a report commissioned by the European Parliament’s Committee on Civil Liberties, Justice and Home Affairs (LIBE) has found.
Efforts in Greece to tackle domestic corruption need to give a much higher priority to fighting foreign bribery, and especially target the export, shipping and SME sector, a report from a leading anti-graft watchdog has said.
Since it was first recorded in 1944 by American public administrator David Lilienthal, the following anecdote has been told many times and in many ways: A traveller asks a local man for directions and, after much thought, the latter turns to the visitor and says: “My friend, I tell you; if I were you, I wouldn’t start from here.” As Greece and the eurozone remain some distance apart on how to conclude their bailout negotiations, it seems a good time to return to this tale.
Just as the five-year anniversary of Greece’s first EU/IMF programme approaches - and despite marked procrastination in a number of other fronts - Greece’s coalition set up a parliamentary committee to investigate the country’s bankruptcy and the signing of its two memorandums with the troika.
In his opening speech to Labour MPs after the party’s historic election win in May 1997, Tony Blair implored the party’s lawmakers to be “whiter than white, purer than pure”. Unfortunately, it didn’t quite work out that way.