The IMF, ECB and EU representatives are scheduled to visit the Ministry of Finances twice on Thursday, in the morning and afternoon, in order to discuss the primary surplus of this year’s budget and the situation of the defense industries.
Regarding the primary surplus meeting, which took place at 10:30am, it appears that the troika and Ministry are coming to an agreement. The negotiations for the 2014 budget, the progress of bank recapitalization, public sector suspensions and privatizations are also being addressed.
The second meeting, which is scheduled to take place at 4pm, will focus on the future of defense industries EAS, ELVO and LARKO. The troika representatives are adamant that they must all shut down immediately and the employees dismissed without compensation. The European Commission has demanded that government subsidies handed out to the companies which were used for non-military purposes must be returned.
The Ministry of Finances is desperately seeking a compromising solution with the troika representatives, since the restructure of the defense industries is prerequisite for the collection of a 1-billion-euro loan installment.
