The teams of experts are ready to start working in the ministries
It seems that the government is now in defense against everything and everybody. The very tough measures for 2011-2014 will be sealed in today’s meeting, and according to information there is pressure for additional measures of 6bil (2013-2014) in order to avoid missing the targets once again.
Yet the auditors will not leave since at Merkel’s and Sarkozy’s orders, they will be responsible for implementing and achieving the objectives of the memorandum. Since there is no point in checking the government to discover simply that it does not implement any agreed measure, they are making plans to implement them themselves.
The issue of enforcing the "Task Force" of the EU in crucial ministries came up strongly at the last meeting yesterday evening, first and foremost regarding the Ministry of Finance. Thus, Horst Reichenbach’s team will essentially assume the responsibility of running actions and measures, which would otherwise stagnate, in the intervals of the audits.
Commissioner Olli Rehn made statements while in Finland and said that the cash reserves of our country will last until mid-November, ie, that decisions can wait for half or one month more, leaving Greece to make plans as to whether the money is enough and until when.
But Europeans are not rushing to make decisions on Greece - especially if they are to burden their government budgets and their banks - but are saving time by putting the country in front as an excuse.
This creates additional pressure on the government that will have to take additional measures for the upcoming haircut, with information refering to figures in the range of even 50%. Merkel and Sarkozy essentially buried the July 21 agreement. The government is now racing to save what it can from the old agreement. That was its sentence, after not implementing the Troika requests during the summer.
But the worst is no longer able to influence decisions about the amount of debt that will be erased. Merkel and Sarkozy are disagreeing and postponing their decisions since, as Jose Manuel Barroso almost confesses in an interview published today in the German Bild, they do not know what they are doing: everything is unprecedented, nothing has been tested before in euro circumstances and they do not know how and toward what to prepare for the scenarios on Greece.
The only certainty is that a new era is beginning for Greece and the EU: the "consumer orgies" are done, rich countries will pay (via EFSF) for bankrupt ones (like Greece) and also the banks that face problems, and the countries of southern Europe will have to learn to live without new loans, but stand on their own feet.
Ειδήσεις Δημοφιλή Σχολιασμένα