ΚΑΤΗΙΜΕRΙΝΙ

 

A Date For December

The draft 2014 budget that will be submitted today to parliament by Finance Minister Giannis Stournaras will not have the troika's approval following yesterday's meeting between the minister and troika heads during which differences over the level of Greece's funding gap for 2014 could not be bridged. The prospect that a supplementary budget will be submitted sometime in the future remains, although that is not something the government wants. This means that the next milestone for an agreement to be reached is the 9th of December Eurogroup meeting. Negotiations will continue via teleconferences as the lender's representatives depart today, although they may return at the beginning of the month if progress is made. A top official of the finance committee believes that the troika will be more flexible on the issue of the public finances provided significant progress is made on structural reforms. However large differences also remain on that front.

ETHNOS

A Generation’s Struggle

Two students, one in Greece and one abroad talk about their studies – a painful comparison.

Michalis Dinalexis – Imperial College, London
“I’ve been at university for four years and we haven’t missed a single hour of lessons.”

Stefanos Margaritis,
Ethniko Metsovio Polytechnic
“I’m trying to finish my thesis using information from the internet.”

Students at Greek universities are suffering the consequences of unbridled unionism which is severely impairing their studies. They miss entire six-month terms and exam periods, their graduation is delayed and they struggle to find sources for research projects. Meanwhile their counterparts in other countries obtain academic and professional qualifications unhindered.

 

EFIMERIDA TON SYNTAKTON

Unpaid For Three Months – And Legally!

Two new employment contracts will open a Pandora’s box of consequences as they effectively do away with, among other things, the requirement for employers to pay workers on a monthly basis. The employers will now be allowed to pay their workers up to three months later, a revision which will likely trigger a further feudalisation of the labour market. This change was made by two companies, both in the security industry, with one of the contracts already approved by the Ministry of Employment.

 
 

TA NEA

Directionless DIMAR

A new period of soul-searching is beginning at DIMAR, the ‘Democratic Left,’ following party leader Fotis Kouvelis's statements that opened the door to a potential post-election collaboration with SYRIZA. Party secretary Spiros Lykoudis said that the potential for ridicule was great. DIMAR representative Andreas Papadopoulos was also critical in an op-ed piece published by “Ta NEA”.

*NB – DIMAR, was originally part of the coalition government but withdrew its support last summer following the government's closure of the public broadcaster ERT with over 2,000 job cuts

 
 

HRIMATISTIRIO

Banks To Resume Lending to Greek State

Following 4 years of absence, 37.7 billion worth of losses due to the PSI and government bond 'buy back' schemes, Greek banks are ready to start lending money to the Greek state again. While the ECB imposes limits between states and banks over government debt, and is moving to implement strict rules, Greek banks are an exception given that they do not have middle or long term debt; following the latest buy back Greek banks hold mainly 6-month government bonds. The troika has therefore agreed to the government's plan to return to the markets – perhaps even before May's European Parliament elections – with an offering of 3 billion worth of 3-year government bonds.