Bargaining on the 2012-14 measures

The Finance minister actually laid the groundwork for the new measures of ’12-’14 in the marathon meeting with the Troika that began yesterday evening.

The ecconmy team are keeping their cards close to their chests for the time being, even though they have prepared a list of measures that they will hand to the Troika if needs be.

Initially the minister seeks to convince of his desire for measures without specifying them. The government wants to bring in the other political parties, deeming as necessary a road map for the course of decreasing the state debt by 11-12bil euros in three years. However, it avoids mentioning specific measures, while it will attempt to open a fruitful discussion with social bodies and political parties.

At any rate, a multi-front fight and a precarious balance with our debtors will judge the fate of the total rescue package and the new measures.

The government is being put under more and more pressure to abide by the memorandum terms, and the president of ECB Jean Claude Trichet said at the European Parliament: "Implement the Program. This is the message we send to the Greek government."

The government on its part is counting heavily on the creation of the new European Support Fund to achieve an extension of the repayment period, decrease of interest rates and new loans to our country.

All this is getting opposition from the German stance and its proposal for competitiveness and constitutional clauses for prohibiting the establishment of debt and deficits, which the government will attempt to take off of the agenda in the 45hrs left for the decisions that will be made by the European leaders in the Summit on March 25th.