Greek Prime Minister Lucas Papademos delivers a speech during a conference organised by the European Commission in Athens
(ANSAmed) - ATHENS - After a brief pause due to the pre-election period in Greece, representatives of the troika (the International Monetary Fund, the European Union and the European Central Bank) will once again be heading back to the country. Immediately after the formation of the new government resulting from the May 6 parliamentary elections. The troika will be heading back to Athens for an initial visit to the new staff of the Finance Ministry. It will then go back again later in early June to begin verification on the implementation of the plan for recovery of the Greek economy and the deciding on economic measures to bring in 11.5 billion euros in the 2013-2014 period provided for by the programme. According to Finance Ministry sources quoted by Greek newspapers, if the recession in 2012 surpasses the 4.7% foreseen by the state budget, then the troika may requests fresh measures during the June verification visit. Should this be the case, the finance ministry may request an extension for the period to reduce deficit to under 3%, for 2014 instead of 2013. Moreover, the same sources say that the Council of Ministers meeting scheduled for tomorrow will make decisions concerning the recapitalisation of banks and thereby prepare for a definitive solution to the problem for the post-election period.(ANSAmed).
