A “light” Eurogroup to be expected, but not for Athens

Greek Finance Minister Ioannis Stournaras and ECB board member Jorg Asmussen (C) speak with an advisor prior to a Eurozone finance ministers meeting on October 14, 2013. Now he is told that Greece is "miles and and Billions" from target

Greek Finance Minister Ioannis Stournaras and ECB board member Jorg Asmussen (C) speak with an advisor prior to a Eurozone finance ministers meeting on October 14, 2013. Now he is told that Greece is “miles and and Billions” from target

“Miles and billions” the gap between Troika and Athens, says EU official

12/11/2013 – 6:51pm

In the run up to this week’s Eurogroup, a senior EU official said that it is not expected to be a long and painful Eurogroup meeting.

EU finance ministers will meet on Thursday against the backdrop of the recently published autumn forecasts by the European Commission. The economic situation in the Eurozone and the first, encouraging signs of economic recovery will be their fist topic of discussion.

As for the programme countries, the EU official was very optimistic for Ireland’s and Spain’s exit from the adjustment programme. Ireland’s exit, he said, will be thoroughly discussed during the meeting. According to the same source “a clean exit is expected for Spain”.

On Cyprus, he said that the last review which was finalised last week, showed good fiscal progress, but things were not that good for the restructuring of the banking sector.

As soon as the triumph talks were over, the EU official went on to Greece’s programme,  where things are not very promising. Troika’s mission continues in Greece, however it seems that there are some serious disagreements with the Greek government on the fiscal gap for 2014.“We are miles and billions apart” was his message to Athens. As for the time frames, “we will return from our ski holidays if there is an agreement”, he stressed, implying that the two parts are not expected to find a solution before early 2014.

http://www.neurope.eu/article/%E2%80%9Clight%E2%80%9D-eurogroup-be-expected-not-athens

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