While the Greek government struggles to find ways – read: austeirty measures cuts – and save 11.5 billion euro for the next two years, the Troika representatives seem to take their time. While it was expected that Greece’s lenders representative would start their visit to Athens on July 24th 2012, a spokesman from the European Commission refrained on Tuesday to give exact dates.
European Commission’s spokesperson for economic and monetary affairs and the euro, Simon O’Connor, said he had no knowledge of how long the mission would stay in Athens or of when the troika’s report on Greece’s fiscal adaptation program would be completed. The Troika inspectors are set to return to Athens in the coming days, O’Connor said however.
A delay in Troika’s report would delay also the release of the bailout tranche, originally set for August. “No Troika money, no wages and pensions” is the usual blackmailing formula Greeks have been hearing since May 2010, when the country sought the aid of IMF and the EU.
When even my two cats, (5 and 14 years old) know very well that not a single cent from the Troika bailout goes to Greeks but ends in the pockets of Greece’s lenders.
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Meanwhile Reuters reported that Greece’s government is seeking a bridge loan from the country’s foreign lenders to cover its financing needs until September, a finance ministry source said on Tuesday.
Cash-strapped Greece is set to run out of money in weeks without further aid from the European Union and International Monetary Fund bailing out the country.
Greece’s European partners have promised that they will find a solution to cover the country’s funding needs through August, but have yet to specify how that will be done.
“We are fighting to secure the bridge loan by September,” a finance ministry official told reporters, speaking on condition of anonymity.
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