The Prime Minister’s speech at the Thessaloniki International Fair (TIF) is always a noteworthy event, with this year not being any different. While there is no official word yet on his speech this year, Antonis Samaras is rumored to focus on limits and “red lines”.
The overall message aimed towards the troika and our lenders is that the Greek government is being pressured and that the people have reached their limits. The PM will clarify that the troika must revise its stance, as it currently creates a hostile environment in light of the upcoming talks.
The straw that broke the camel’s back was the email the troika sent about the closure of the Greek defense industries, as a hint of what is to come after the German elections, at the request of our lenders.
The PM and his staff were aggravated by the email and are prepared to respond. According to a high-ranking official “there are limits and they must respect the elected government” and “they should not try our patience”.
The Prime Minister has rejected the “recommendation” of bankrupting EAS, ELVO and LARKO, insisting that the companies have valuable assets and that a restructure is more appropriate. Mr. Samaras wants to avoid dismissing 2,100 employees and has proposed liquidation during operation.
If anything, the Greek defense industry ordeal is a preview of the level of negotiations that are to take place during the upcoming troika visit. Other critical issues to be addressed are the troika demands for a further cut in pharmaceutical costs.
