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(Title) Satisfied appeared the head of the Troika on the progress of budget execution, as well as stressed by the end of May, the deficit is reduced by greater than anticipated rate. Indicated that they would return in July to re-examine the program and will have a permanent presence in Greece and the IMF will open an office.
During a media briefing said that the program of the Greek government correctly carried out, the developments in the financial sector is positive and the government deficit based on the data at the end of May was lower than envisaged in the Memorandum.
As they mentioned, the program goes Greek stability well and is ambitious and on the insurance, they stressed that the government has given great weight and has announced reforms.
Even Paul Thomsen of the IMF said that while it’s still an early stage are slightly more optimistic that the economy would shrink by less than 4% under the memorandum, and revenue increases of over 5%.
stressed that the reform of the insurance system is at an advanced stage and no agreement on the main parameters as they appear the Memorandum. They stated that even if it became changes in insurance estimates spoke of doubling spending as 2050
They said they go regularly structural changes at the labor market, tax reform and local government and expressed the view that there is progress on the issue of the establishment of financial stability fund for banks. Characterized yet sufficient liquidity in the Greek banking sector.
Remembered finally that it will return at the end of July to look again throughout the project and said that the IMF will open an office in Athens to have a permanent presence.
pinch TV
17-6-2010
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