Papademos presents new measures to ministers

The state of the economy, as reflected by the meetings with the auditors of the Troika, and the new measures and structural reforms required in order for the 130bn euro agreement to be signed, are being presented today at Maximou Mansion during an extended ministerial meeting with PM Mr. Lucas Papademos.

In the meeting, as protothema.gr is informed, the people invited do not include only people of financial interests (Finance, Interior, Labor and Health), but also other members of the government, since the country’s economy is now balancing itself on a very delicate spot between default and survival, as was made clear by the occasional statements of the PM.

“We will make a full analysis of the economic situation, based on the Troika’s findings”, stated a valid government source to protothema.gr.

It is clear that the financial measures in order to close the 2011 budget “black hole” will be examined which despite the December improvement, is still around 1.3bn euros.

The substantial update of the Memorandum will lead to a revision of the aims of the budget for the current year, while all these parameters will be examined in light of the new and unofficial - for the moment - assessments of the auditors, according to which the recession will continue in Greece for the following year.

It is obvious that with the negotiations on the new loan agreement as the backdrop, there will also be a discussion on the decrease of average wage costs in the private sector, which the Troika is allegedly pushing for. The Troika is  meeting with Labor Minister Giorgos Koutroumanis tomorrow to discuss this issue.