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This is the Report that Troika will present at the Eurogroup


This is the Report  that Troika will present at the EurogroupLast Sunday, Troika and the representatives of the finance ministers of the eurozone were deciding the approval of the next financial support of Greece.
At the teleconference of EuroWorking Group, Mattias Mors presented the much publicised report of last action packed control the troika and the agreed with the Greek government in order to liberalize the doses of aid for Greece, which is expected to take place tomorrow Tuesday at the Zappeion, where the Council of Finance Ministers of the eurozone will meet.

The representative of the European Commission, as shown in the report that will be released in a while, he spoke with warm words about the success of Greece to control the financial situation in the country through the General Accounting Office. The report devotes a large section describing how Greece arrived in the primary surplus and even said that the control mechanism of expenditure that has arisen can be a “model” for other countries facing financial problem. He also confirmed that the budget of 2013 closed with primary surplus 2.4 billion euros, and the support of social security funds with additional funds 500 million euros. And has determined that the objective of Greece for 2014 is to achieve primary primary surplus 2.7 billion euros which is considered feasible, since the measures on redusing costs, salaries and pensions are outperforming.
In 4 waves the financial support, suggested the technocrats, representatives of the Finance Ministers, as follows: -6,4 billion euros from the ESM during the month of April, -3.2 billion euros by the IMF in May, -1.2 billion euros from the ESM in June, and -1 billion euros from the ESM in July.
In order to receive the installments in June and July, Greece should implement two commitments: -To institutionalise code for dealing with corruption in the public sector (state machine, parties and politicians), and -to consider once again the profit rates of pharmacies.

Financing Gap
Paul Thompsen, IMF’s grumpy, as always, noted the specificity of the debt. As he said in 2014 has met the financial gap which the report determined in a little over than EUR 5 billion (p. p. stands at 8 billion if repos are included as already concluded by the Ministry of Finance), but noted that “in the summer should be decided to run “fresh” money in Greece”, after the financing gap for 2015 is EUR 13 billion!
He also cauterize again Greece, for the long delays on the privatizations program, as yet another year (the third in a series) fell outside the forecasts and the objectives for the revenue. Especially for this year was estimated revenue 3 billion euros, but the result is to collect nor the one-third. Thus raised the question “whether the program is incorrect or the Greek government cannot implement”.

The deflation
In view of the fact that the revenues from privatisation are lagging behind and the nominal GDP is lower than the forecasts as well as the Greek economy, although is fixed, the prices keep falling, the new view for the national debt shows that this rises and tends to the 125% of GDP (by 124 %) 2020. So, new data are coming up, which will certainly be the subject of hard negotiation in substantive discussions on the debt which will start after the European elections.
The multiple Bill
Among the above, at the EuroWorking Group meeting, there were niggles and ironic comments on the multiple Bill that nobody had enough time to read, exept Matthias Mors, who seemed to knew all the issues. 

http://www.hellasforce.com/en/this-is-the-report-that-troika-will-present-at-the-eurogroup/

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