The Minister of Finances Gikas Hardouvelis has arranged a series of meetings with Minister of Administrative Reform, Health, Growth and Labor in preparation of the upcoming talks with the troika heads.
At the top of Mr. Hardouvelis’ agenda are the “red loans” and a number of unresolved labor and insurance issues, which the troika is expected to focus upon in the “mini review” that will take place prior to the scheduled review in September.
At 10am Mr. Hardouvelis held a meeting at the Ministry of Finances to discuss red loans with members of the FSF, the Bank of Greece and the troika. A further meeting was planned for noon, with the participation of officers from the Ministries of Justice and Growth.
The coalition government aims to come up with a series of proposals in conjunction with the banks in order to tackle the problem of non-serviceable business loans. The goal is to prepare the mechanism so that it may come into effect by the end of the summer
According to the initial plans, the banks will distinguish between loans that are paid off with delays and loans that have been serviced. Subsequently, businesses that are considered to be sustainable will draw up a new business plan, tailored to the needs and problems of each business.
