Eurogroup meeting today
- Written by E.Tsiliopoulos
The Eurogroup is meeting today, and while the Greek issue is not on the official agenda, creditors will be renewing their rendez-vous for September with a series of prior actions expected to be on the table of talks before the second review starts.
Finance Minister Euclid Tsakalotos heads to Brussels with the primary aim of changing and lowering the budgetary surplus targets Athens has to meet after 2018.
Measures demanded by creditors stipulated in the technical memorandum of understanding agreed in June, include provisions like the phasing out and the eventual abolition of the state’s contribution in the tripartite funding of pensions. The prior actions are required for Greece to receive the 10.3bln Euros from the European Stability Mechanism (ESM).
Pressure is also expected to come from the demands by the IMF for the decrease of the minimum wage levels in Greece, as its reports pointed out that the level is higher among many EU countries in relation to the country’s per capital GDP. More changes are expected to come about on the taxation front, including the 2016 and 2017 ENFIA property tax.
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