Government honing case for lower surpluses to creditors
The government is preparing its case for tax cuts and a lower primary budget surplus ahead of the September visit of Greece's creditors for their fourth report under the regime of "enhanced supervision" that has followed three painful rounds of austerity programs.
Lower-level "working groups" will get to work on September 16 to prepare for the visit of the senior officials delegated by the creditors on September 23.
Government spokesman Stelios Petsas revealed at Tuesday's regular briefing that one of the government's arguments for a reduction of the primary surplus is the decline in Greek bond yields, which helps with the servicing of Greece's debt.
Petsas referred specifically to Greece's borrowing 2.5 billion euros with a seven-year bond at a historically low 1.9 percent rate and the recent auction of six-month treasury bills which yielded a rate of just 0...
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