Creditors begin Greek reforms review ahead of strike

GMT 16:06 2015 Wednesday ,11 November

Arab Today, arab today Creditors begin Greek reforms review ahead of strike

Many Greeks protested at the government in July
Athens - AFP

Greece's international creditors on Wednesday begin a review of reforms pledged under the country's bailout, a day ahead of a general strike to protest the measures.

Senior representatives of the European Commission, the European Central Bank, the IMF and the European stability fund will begin their round of meetings with Economy Minister Yiorgos Stathakis, his office said.

Greece in July accepted a three-year, 86-billion-euro ($93-billion) EU bailout that saved it from crashing out of the eurozone, but came with strict conditions.

Athens has since adopted a number of unpopular reforms but is now under creditor pressure to facilitate home loan foreclosures.

The Greek government insists on maintaining a safety net for more vulnerable households.

There is also a rift over Greece's mechanism for dealing with bad loans -- an important factor in shoring up the country's beleaguered banks.

Eurozone finance ministers said Monday there had to be an agreement on the issues during this week before unlocking more  bailout funds.

Greek unions have called a general strike Thursday to protest the austerity cuts, the first to be held under the leftist government of Alexis Tsipras.
Trains and ships will be ground to a halt by the strike and over 30 domestic flights will have to be cancelled.

Ministries, local councils and museums will also be shut.

Journalists are also taking part in the 24-hour work stoppage.

The shipping standstill will cause further congestion on Greek Aegean islands, where thousands of refugees continue to arrive from neighbouring Turkey on a daily basis.

Tsipras' decision to accept a third EU bailout conditioned on fresh tax hikes and pay cuts caused a split in his ruling Syriza party over the summer.

Syriza this week called for a "mass participation" in the strike, pledging to continue the struggle against the "anti-social, extreme neoliberal policies" that the leftist government is currently implementing.

Tsipras has called the bailout agreement a "painful compromise" and a "tactical retreat" that enabled the country to avoid bankruptcy and stay in the euro.


Arab Today, arab today
Arab Today, arab today
arabtoday arabtoday arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabs, Arab, Arab