Tsakalotos

Handouts announced by Prime Minister Alexis Tsipras ahead of municipal and European Parliament elections next week appear to have raised concerns among European Union governments over whether Greece will be able to honor its pledges to creditors even as Finance Minister Euclid Tsakalotos indicated that more relief measures are in the works. 

"Relief measures" announced by Greek Prime Minister Alexis Tsipras ahead of municipal and European Parliament elections appear to have raised concerns among EU governments over the country's efforts to meet its pledges to lenders.

Greek Finance Minister Euclid Tsakalotos said on Tuesday that the government is pondering the reintroduction of a "solidarity benefit" for low-income pensioners in a "more targeted form," along with other measures including making it harder for the state to seize the deposits of indebted businesses.

A vandalism spree by self-styled anarchists in central Athens on Thursday night is believed to have caused some 70,000 euros in damages, the Athens Chamber of Commerce & Industry (EBEA) has said. 

According to EBEA representatives that inspected the damage, most of the stores targeted were clothing, shoe and accessory retailers, as well as two bank branches and a gallery. 

The Greek bond and stock markets had a negative reaction to Tuesday's government announcements, contrary to what Finance Minister Euclid Tsakalotos said would happen when presenting the handouts planned.

The aim of the benefits announced yesterday by Prime Minister Alexis Tsipras is clear and specific.

Under pressure after it was revealed that he vacationed last August on a shipowner's yacht, the PM hastily presented his already planned fiscal stimulus package in an effort to change the unfavourable political climate.

Greek Prime Minister Alexis Tsipras on Tuesday announced tax cuts and pledged to reinstate a benefit for low income pensioners among other "relief measures," weeks before municipal and European Parliament elections.

Greece's creditors are expected to assess the government's plans for handouts based on projections of the fiscal space available, in the context of the spring forecasts the European Commission is set to publish on Tuesday.

Greece unveiled draft legislation on Sunday intended to provide relief to millions of Greeks with tax and pension contribution arrears, offering discounts to amounts owed and stretching out payment plans by up to 120 monthly installments.

Finance Minister Euclid Tsakalotos on Thursday said he is planning to meet with Prime Minister Alexis Tsipras on Saturday to decide on the handouts the government will be announcing next week, in an effort to capitalize on the primary surplus overrun projected for this year, according to figures forwarded to the European Commission.