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The Hellenic Radio (ERA): News in English, 10-07-25

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article

From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

  • [01] Troika Inspectors in Athens

  • [01] Troika Inspectors in Athens

    Saturday, 24 July 2010 19:00

    Troika delegation, who is in Athens, is scheduled to start new inspections on Finance Ministry data in order to draw the report for the allocation of the second installment of the rescue mechanism loan. All public companies (DEKO) facing problems are expected to enter into supervison, including state hospital debts, insurance funds, revenues from taxation and local administration finances.

    New Inspections from Monday

    The group of inspectors from the European Central Bank, the International Monetary Fund and the European Commission start on Monday, July, 26 a 15-day stress test on Greece's economy which will conclude on August, 6.

    Inspection will be focused on:

    * State companies that continue building up deficits and ones overstaffed.

    Inspectors will ask for latest reports on the finances of state companies (DEKO) not in the stock market and to be briefed on draft-bill providing for restructuring of Railway Company.

    Accumulated debts of state companies account for 0.8% fiscal deficit burden and 5% of state deficit. Only railway company debt approaches 10 billion euros.

    * Hospitals' debts, increased need for financing insurance funds, grey zones in local administration funds .

    * Reduction in taxation incomings, preparation of 2011 state budget.

    * Forthcoming changes in banking sector after results of stress tests.

    The first report on Greece's progress will be drawn after conclusion of inspections and contacts with senior government officials. The allocation of the second installment from rescue package loan depends on the content of the report.

    Finance Ministry Optimistic

    The Finance Ministry considers certain the allocation of the second installment.

    In an interview with a Sunday newspaper, Mr. Papakonstantinou said "new measures are not being examined at present although we have too much work ahead".

    Source: ΝΕΤ

    News item: 38821


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