Troika stops any debate on primary surplus distribution

Troika stops any debate on primary surplus distribution

Greece's lenders seek to reduce the amount and the categories that would receive the "social dividend" and asks for the offsetting of the expected surplus for 2014 - The Greek government insists it will distribute 70% of the precalculated excess

Troika stops any debate on primary surplus distribution
The 2013 surplus that was to be distributed has disappeared after pressure from the troika. What will finally be given and to whom will be judged this week, but everything indicates that the troika wants to cut down its distribution.

Finance Deputy Minister Christos Staikouras announced a 2 billion surplus, but after pressure from Greece’s lenders the final amount to be distributed will go through several reviews.

"We will give 70% of the excess, this does not change, but it will be discussed as soon as troika returns. We have told them whom we want and whom we can help but they have not responded," the Finance Ministry says.

The new parameter of the troika is that "the surplus excess in 2013 will be distributed on the basis of the assessment for the excess in 2014." So it is not enough for the surplus of 2013 to be sustainable and viable, but there must be an excess in the surplus of 2014 as well, where estimations speak of a 1.5% GDP percentage.

Troika wants the planned benefits to have a growth character, something that is quite debatable, because the Greek government considers that benefits to low pensioners can indirectly stimulate consumption, but the troika has not answered whether it accepts such an assessment or not.

But whatever the economic team can not distribute as a provision it plans to give as extra payments on overdue state debts. "In overdue debts we can dispense what we want from our cash resources because these payments are budget neutral," that is, they are not incurred expenditure as they cover already recorded debts.
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