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Greece's new government successfully set up to exit the crisis alert may be temporarily

:2012-06-25 22:06:46Source::UniteDirectory  [Submit Article]  [Submit Link]

  June 20, Greece continued to the last two months of political chaos is finally near the end: by the New Democratic Party, the Panhellenic Socialist Movement (PASOK) and the Democratic Left Party Group has become a coalition government. New Democratic Party won the election on the 17th 席萨马拉斯 will serve as the new Prime Minister of Greece, the three parties in the 300 parliament will have 179 seats.
Greece form a new government within three days and successfully, and by the support of political parties of the EU/IMF aid agreement to exclude the risk of Greece leave the euro area in the short term, but long-term risks remain as the euro zone of instability.
The new government's first task will be to renegotiate the "Troika" and the EU/European Central Bank and the IMF bailout of Greece. The next focus is the composition of the cabinet members, especially the candidates of the Minister of Finance, he led negotiations with the "Troika". Possible candidate for governor of the National Bank of Greece (National Bank) Vassilis Rapanos.
Greece's second-largest bank Alfa Bank chief economist Michael · 马苏拉奇斯, (Michael E. Massourakis), told this newspaper that negotiations need to let the EU/IMF reached at least to the Greek deficit reduction targets, one-year extension to 2015 In addition to stop the cuts in pensions, civil service wages and minimum wages across the board.
Under the existing terms of relief, before 2014, Greece need to cut the debt of 11.5 billion euros, equivalent to 5% of its GDP.
马苏拉奇斯 also said that the relief provisions of another pillar of the structural reforms need more time, "such as the privatization of part stagnated for three months" before the political uncertainty.
Germany, the largest contributor to the Greek aid, stressed its willingness to give more time to complete the reform in Greece, but not its actual content changes. But a senior EU officials hinted in the briefing before the euro zone finance ministers meeting in June 21, showed more space, he said it would loan agreement remain the same "paranoid and stupid.
"Troika" will soon return to Athens, Greece to renegotiate. EU can make a number of concessions, will be the June 21 Finance Ministers' Meeting and the 28th EU summit's key issues. But the officials said the negotiations can not be ended within two weeks, "is likely to be conclusive in the summer between.
Believe that the new government needs to let the troika and the German re-negotiations, only the implementation details of the changes will not touch on the actual content; but we must compromise and change, to the domestic living conditions continue to decline in the people an explanation.
Greek central bank, a senior official told this newspaper that Greece only the establishment of a competent, reputable government can truly back on track, "Although the reform measures enacted by the Troika, but the current situation in Greece in part because the Government to implement due to the lack of capacity. "
But within the coalition government has the "capacity" and "credibility" remains to be seen. PASOK leader 维尼泽洛斯 has hinted in the cabinet negotiations, PASOK and the Democratic Left does not have too many posts in the cabinet to avoid decisions made by the new government to take on too much responsibility.
Of the central bank senior officials said the negotiations with the "Troika" is of course important, but more critical is to establish the confidence of borrowers, the Greek government, I believe that Greece's new government will keep its promise, determined implementation of the Loan Agreement reform. "Troika of Portugal loan agreement because of this confidence, the conduct modified, but did not happen in Greece."
Greece wishes to the European Union allocated to the 14 billion euros in structural funds to be secured as well as the European Investment Bank to issue project bonds will be injected into the economy of Greece, re-activate its economic growth.马苏拉奇斯 that these funds should first be injected into the infrastructure construction of highways, railways and energy.

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