Greece expects to bridge a fiscal gap with international creditors by Monday to unblock access to billions of euros in badly-needed loans, Finance Minister Yannis Stournaras said on Wednesday. Stournaras said an agreement would be reached by "Monday's eurogroup," a reference to a meeting of eurozone finance ministers in Luxembourg. He acknowledged that the difference with creditors was still "quite big" but insisted that a deal could be reached with auditors from the European Union, the International Monetary Fund and the European Central Bank (EU-IMF-ECB). Stournaras was positive the gap would be closed, saying: "They will come over to our views, we will go to theirs," in remarks to reporters outside the prime minister's office. The finance minister said he had "no knowledge" on rumoured plans by European leaders to establish a broader crisis plan involving other struggling eurozone economies such as Spain. Greece needs to gain access 31.5 billion euros ($40.6 billion) in loans from a second EU-IMF bailout programme that have been held up for several months. Athens needs the money to recapitalise banks and repay outstanding domestic debts that now amount to almost eight billion euros. This week, the government presented additional budget cuts worth 7.8 billion euros for 2013 to get the country's troubled fiscal overhaul back on track after delays that were exacerbated by elections this year. But the EU-IMF-ECB, or troika, representatives are reportedly questioning some 3.5 billion euros in cuts in 2013 and 2014 that are needed to seal the deal, reports said. A finance ministry source on Wednesday confirmed that the fiscal gap just for 2013 was in the order of 2.5 billion euros. Stournaras has told the Thursday edition of Germany's Bild daily that he expects the auditors' report to be ready by mid-October and was confident that Greece would receive funds before the end of the month. Contrary to reports, there was "no misunderstanding" with the troika and talks were on the right track, Stournaras said.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor