Austerity "seminar" by the Troika for the coming years
Austerity "seminar" by the Troika for the coming years
Tough but necessary measures, they tell us, and we have to be ready for “corrections” if we stray from our paths
UPD:
The first meeting after the Memorandum agreement between Dominique Strauss-Kahn and Olli Rehn one the one hand and the Greek ministers on the other, taking place next Tuesday and Thursday, will not be very pleasant. By the time the discussion on the 2011 budget is heating up, the two heads of Troika will be giving “lectures” on economy and… austerity to the leaders and the social bodies with which they will meet.
A harbinger of what they will say were the statements made in Washington about our country by the representative of the IMF, as well as the… admonitions of the other Troika counterpart, President of the European Central Bank, Jean Claude Trisse.
Caroline Atkinson, IMF rep, stressed that Greece’s Program of Economic Policy may be tough but must be executed. Although she avoided commenting on whether there will be a loan repayment extension because it is not “of the moment” and the European Partners will have to take a position, she said that the IMF is ready to support our country.
“In Greece there is a very powerful fiscal program being implemented by the Government which has public support for the tough measures, as shown in the recent elections”. “As you know, the report of our auditors is positive, although not yet approved by the IMF Board in Washington, but the program is being executed, moving in the right direction”, she said.
A little earlier and in the same vein, Jean-Claude Trisse sent a message about tough austerity to the countries with excessive deficits (like Greece), especially in the current crisis situation, with the explosion in interest rates and risk premiums of European bonds: “At this stage the authorities need to strengthen the trust in sound public finances reducing the premium risks in the interest rates of their bonds. In their 2011 budgets, they must establish the necessary measures of fiscal adjustment in every detail, and be ready for corrections of any deviations from their financial targets. The broad structural reforms are essential,” he underlined, describing theTroika plan for our country from 2011 onwards.
A harbinger of what they will say were the statements made in Washington about our country by the representative of the IMF, as well as the… admonitions of the other Troika counterpart, President of the European Central Bank, Jean Claude Trisse.
Caroline Atkinson, IMF rep, stressed that Greece’s Program of Economic Policy may be tough but must be executed. Although she avoided commenting on whether there will be a loan repayment extension because it is not “of the moment” and the European Partners will have to take a position, she said that the IMF is ready to support our country.
“In Greece there is a very powerful fiscal program being implemented by the Government which has public support for the tough measures, as shown in the recent elections”. “As you know, the report of our auditors is positive, although not yet approved by the IMF Board in Washington, but the program is being executed, moving in the right direction”, she said.
A little earlier and in the same vein, Jean-Claude Trisse sent a message about tough austerity to the countries with excessive deficits (like Greece), especially in the current crisis situation, with the explosion in interest rates and risk premiums of European bonds: “At this stage the authorities need to strengthen the trust in sound public finances reducing the premium risks in the interest rates of their bonds. In their 2011 budgets, they must establish the necessary measures of fiscal adjustment in every detail, and be ready for corrections of any deviations from their financial targets. The broad structural reforms are essential,” he underlined, describing theTroika plan for our country from 2011 onwards.
UPD:
Ακολουθήστε το protothema.gr στο Google News και μάθετε πρώτοι όλες τις ειδήσεις
Δείτε όλες τις τελευταίες Ειδήσεις από την Ελλάδα και τον Κόσμο, τη στιγμή που συμβαίνουν, στο Protothema.gr
Δείτε όλες τις τελευταίες Ειδήσεις από την Ελλάδα και τον Κόσμο, τη στιγμή που συμβαίνουν, στο Protothema.gr
ΡΟΗ ΕΙΔΗΣΕΩΝ
Ειδήσεις
Δημοφιλή
Σχολιασμένα
