The Best of GRReporter
flag_bg flag_gr flag_gb

European supervision under conditions similar to the ICB

07 February 2010 / 13:02:23  GRReporter
2175 reads

Throughout the ten years history of the euro zone for the first time on February 16th Ecofin will impose to a country member of the EU such a drastic regime and this country is Greece. The regime is not only regarding the finances and the decrease of the deficit, but it also covers the structural changes. The commission required that in the Program for stability and development should be integrated and a program of reforms, binding the government and a part of it is related to the changes in the pension security system.

Like this since February 16th Ecofin will ask for a raise of the age limits for retirement and in an indirect way a decrease of pensions. If Greece does not apply these measures it would be possible in the framework of the procedure for supervision, Europe to impose fines in the form of a decrease of the European subsidies for the country says an article of ”Katimerini” newspaper .

By formulating a plan for the rehabilitation of the country from the crisis with definite terms, which will be strictly supervised by the European Commission and the possibility Ecofin to suggest specific measures it was created a scheme, which strongly reminds of the way the International Currency Board is acting.

Probably Greece with its chronic financial problems, the delay in taking measures for the decrease in the deficit and the speculations played on its shoulders turned into the first domino to fall. The problem passed to the other south European countries – Spain and Portugal, which are also facing the problem with the state running into debt.

When it comes to the forecasts of the analyzers, they vary between the possibility of the country to handle the problem alone, they go through the scenario that in some way the European community will save it and end with the most extreme option for Greece to go in bankruptcy and the necessity of the interference of the ICB.

On the other hand the researches of the public opinion by Capa Research for the “Sunday Vima” newspaper shows that 64,1% of the citizens consider the solutions proposed by the Greek government to be strict, however 50,4% of them agree that the age limit for retirement to be increased. 60,5% consider that the taxes on fuels should not be increased and 32,2% support the opinion that it is highly possible for the country to go in bankruptcy.

The majority of the Greeks – 71,1% believe that it is possible to decrease the number of employees in the public sector without decreasing the quality of services offered. It is positive for the government the fact that 58,6% of the Greeks that they trust the Prime Minister in his attempt to find a way out of the crisis. Parallel to this 57,3% rank positively the position of the leader of New democracy Antonis Samaras to back up the government under certain conditions. This percent among the voters of New democracy rises to 68,2%. The research has been carried out by telephone or by electronic questionnaire between February 3rd and 4th among 2 299 people over the age of 18 years old.

Tags: Politics crisis Greece Ecofin
GRReporter’s content is brought to you for free 7 days a week by a team of highly professional journalists, translators, photographers, operators, software developers, designers. If you like and follow our work, consider whether you could support us financially with an amount at your choice.
You can support us only once as well.
blog comments powered by Disqus