Brussels, 13/09/2011 (Agence Europe) - The European Commission task force on Greece working on increasing and speeding up the use of European Structural Funds in the country has identified some 7.7 billion in “dormant funds” that could be used by Athens, explained the European Commission on Tuesday 12 September 2011.
The task force was set up by the European Commission to help the Greek government identify technical assistance needs and implement the reforms set out in the financial aid programme signed by Greece, the European Union, the European Central Bank and the International Monetary Fund (IMF). It is currently at work in Athens. A spokesperson for the Commission, Olivier Bailly, said the task force was trying to speed up the absorption of Structural Funds in Greece and, to that end, it would be determining with the Greek authorities which projects would be the easiest to implement to generate the greatest growth, competitiveness and employment.
Bailly said the task force had already identified dormant projects to the tune of €7.7 bn, funding that could be immediately released and made available to the Greek government when viable projects are identified. Of the €20.2 bn in funding earmarked for Greece in 2007-2013, only 30% has been paid out thus far. The remaining €14 bn or so includes the €7.7 bn “dormant funds”. Bailly explained the type of technical assistance provided by the task force, like introducing effective, computerised, tax collection and improving the land registry system. He said that hospitals could introduce e-payment systems for healthcare, which has proved its worth in other member states in reducing fraud levels. In response to a question, Bailly stressed that the task force was not there to give Greece orders. It is a parallel structure to the fact-finding mission set up by Greece's international creditors (the EU, the IMF and the European Central Bank). The latter's job is to authorise the payment of the sixth package of financial aid, and is due to return to Athens in the next few days. (L.C./transl.fl)