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Posted on: September 5th, 2012 by AlYunaniya Staff No Comments

Troika: Samaras positive start; handling political situation quite well

Stournaras Eurogroup - source EU

photo: EU

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German Finance Minister Wolfgang Schaeuble told FinMin Yannis Stournaras at a meeting yesterday in Berlin that Athens must fully implement promised reforms in order to receive further aid from its lenders, Reuters reports. According to Kathimerini, Stournaras set out Greece’s positions to Schaeuble, presenting the government’s draft austerity package proposal. Stournaras and Schaeuble reportedly discussed Greek efforts to hammer out a new austerity package, the impact of an ever-deepening recession and the request for a two-year extension.

Meanwhile, Greek Prime Minister Antonis Samaras and his team have made a positive start and “have handled the political situation quite well,” a source close to the troika representatives told Reuters. According to the news agency story, the Greek Premier has shifted the political agenda away from the populist promises of his campaign and seems determined to pass a package of tough austerity measures that include cuts in wages and reduction in the number of civil servants, positively surprising many EU officials and the IMF.

The government is proceeding to cuts in special payrolls of uniformed officers, academics, NHS doctors and justice officials; the reductions range from 6% to 35%, according to protothema.gr. The cuts will be scaled, with the lowest rates imposed on uniformed personnel (military, police, firefighters, and port officers) and the highest ones on justice employees. It will be applied retroactively from 1 July 2012 and will save state cofers aroung EUR 360 million.The cuts include the elimination of automatic wage promotions for Security Forces, which will cause new income losses that the unionists of the industry. The clipping at the earnings of justice officials will be much larger as according to information, the weighted average reduction will exceed 20%, reaching 35% for highly paid magistrates.The economic team estimates that the cuts for AEI – TEI professors will begin at 5% for earnings up to EUR 1,000 per month and will reach 30% for those academics who receive more than EUR 2,500. Average losses are calculated at 17.5%. Doctors in the NHS system will see their salaries cut by 13% on average, while reductions for diplomats and high-ranking clergy will be close to 20%.



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