€31.5-Billion Bailout Tranche for Greece to be Released in November?

Posted by in Economy

 This is a news coming through the indirect way: Greek Finance Minister Yiannis Stournaras allegedly briefed representatives from Municipalities that any discussion on economic demands could take place after the Troika report and the release of the bailout tranche in November.

Costas Askounis, president of the Central Union of Municipalities (KEDE), said further that Greek Municipalities are under threat of suspending payments. 

“14 municipalities did not submit the amounts to the Central Payments Authority necessary for the payments of the first two weeks of September, with the effect that municipality workers did not get paid. If this situation continues, more than 100 municipalities will announce suspension of payments next month.”

Municipality services across Greece launched a 48-strike on 12-13 September 2012 in order to protest planned cuts of up to 30 percent in municipality budgets this year.

KEDE states that these cuts threaten the social services (day-care centres for children and elderly), free medical clinics for the poor, food-aid programmes and maintenance of other services like streets cleaning, garbage collection.

Kallikratis reform of centralized the administration of municipalities with the effect that even municipalities with surpluses to be obliged to get money for payments through a common register.