Greece ready to turn page on fi­nan­cial cri­sis

The Myanmar Times - - International Business -

GREECE is “fi­nally ready to turn the page” on its fi­nan­cial cri­sis, EU com­mis­sioner and for­mer French econ­omy min­is­ter Pierre Moscovici said ahead of crunch meet­ings.

Mr Moscovici was to hold talks yes­ter­day in Athens with Prime Min­is­ter Alexis Tsipras and in an in­ter­view with cen­tre-left news­pa­per Eth­nos he said an agree­ment on re­forms, bud­get tar­gets and debt re­lief is “to­tally fea­si­ble” soon.

Greece must ne­go­ti­ate the pack­age with its EU and In­ter­na­tional Mon­e­tary Fund cred­i­tors. The next meet­ing of Eu­ro­zone fi­nance min­is­ters is on De­cem­ber 5. Mr Moscovici, an EU com­mis­sioner for eco­nomic af­fairs, said, “The con­di­tions are ad­e­quate” to al­low the Greek debt bur­den to be raised at next month’s min­is­ters meet­ing.

He also ex­pects a “lively dis­cus­sion” on the ques­tion of any re­lax­ation of aus­ter­ity mea­sures.

There were strikes in Greece last week against a new round of tax hikes and labour changes be­ing con­sid­ered by the govern­ment un­der the EU res­cue deal.

Civil ser­vants, teach­ers, sailors and hospi­tal doc­tors walked off the job in protest. EU mem­bers and the IMF want Greece to over­haul its labour leg­is­la­tion to make strikes less likely while mak­ing lay­offs eas­ier.

The govern­ment last week also tabled a new bud­get con­tain­ing around 1 bil­lion eu­ros from ex­tra tax­a­tion on items in­clud­ing cars, land­line phones, sub­scrip­tion TV, fuel, to­bacco, cof­fee and beer.

Pub­lic spend­ing on salaries and pen­sions will also be cut by 5.7 bil­lion eu­ros (US$6 bil­lion) next year. –

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