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Thursday, July 5, 2012

Greece's new FinMin: some reforms off track




After months of political turmoil that led to a hiatus in the implementation of reforms as Greece struggled through two inconclusive elections, the country's international debt inspectors from the European Central Bank, European Commission and International Monetary Fund have returned to Athens for the first time in over three months to inspect the status of the debt-ridden country's finances.

The hardship led voters furious with mainstream politicians' handing of the crisis to abandon the traditionally dominant parties in droves in favor of smaller anti-bailout parties advocating Greece renege on its bailout conditions.

Since its last visit in late March, the troika has returned to meet with the new government and explore the financial situation.

The troika heads' visit was also delayed by about a week after Samaras was forced to stay home for several days to recuperate from serious eye surgery carried out just after the election, and his designated finance minister was hospitalized and later turned down the post for health reasons.

Ahead of the government's policy statement, which Samaras is to present in Parliament Friday evening, the governing coalition has said it advocates easing some terms of the bailout agreement, including freezing public sector layoffs and repealing some of the tax hikes imposed over the past two years.


READ THE ORIGINAL POST AT www.sfgate.com