Stournaras updates troika on last night’s emergency meeting

The troika representatives made a surprise visit to the Ministry of Finances at around 10am today, where they met with Minister Giannis Stournaras. The unannounced visit even surprised the Minister’s associates.

It appears that the IMF, EU and ECB representatives want to be informed on last night’s meeting between the government partners regarding the ERT crisis and what decisions have been made regarding its restructuring, particularly the staff.

The troika representatives Tomsen, Mors and Masuch brought up issues discussed over the weekend, such as the unified land tax, VAT in food and the privatization timetable. Since the government is unable to achieve its revenue goals from privatizations, it will have to take further austerity measures in September to cover the budget for 2013-2014.

Both sides are trying to come to an agreement before the Eurogroup next Thursday. Should they not come to an agreement, it is not clear if the troika representatives will return to Athens at the end of June.

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