Waiting for the troika to arrive anew
The next fortnight, the new government will face the troika and, until the beginning of July, will have to fulfill all the greek side commitments towards creditors, in order for the 8.1 billion euro dose to be given next September. But the open fronts are many and the eventuality of not fulfilling the obligations is leaving the possibility of new measures implementation open.
The abeyances are many.
First on the agenda is the public sector again, as the troika is expecting this time that the issue of subjecting 12,500 public servants to availability/mobility will be concluded. Needless to mention that the handling in the case of ERT are a representative example of what can follow.
Another chapter is the issue of the fiscal void for the 2013-2014 period, mainly because of the 660 million euro “black hole” in EOPPY (the major social security fund) and the 400 million more that have to do with financial burdens from other social security funds. If the government fails to give convincing answers, then additional measures will have to be taken.
Also, the privatisation programme must be revised, given that the 2.6 billion euro income goal for this year is not going to be met after the failure of the DEPA deal. This means an acceleration of the privatisation programme, otherwise the deviation clause will have to be activated, which also means new measures to be taken starting September.
Furthermore, there is also the abeyance concerning the new uniform tax on real estate, where the troika has expressed objections concerning the government planning. If they are not overcome, the tax will be extended also into 2014.
Finally, as everything shows, it will be difficult to decide a reduction of Added Value Tax in the food sector.