Brussels, 14/09/2011 (Agence Europe) - On Wednesday 28 September, the European Commission announced that the fact-finders of Greece's international creditors (the European Commission, the European Central Bank and the International Monetary Fund) would start work in Athens again on Thursday 29 September. A spokesperson for EU Economic and Monetary Affairs Commissioner Olli Rehn was pleased to announce that it had been decided that very day that the fact-finders would resume work in Greece for their fifth assessment of implementation of the Greek austerity programme. The decision was taken after the Greek government announced further austerity measures to meet its economic and budget commitments this year and next, including a one-off property tax.
Rehn's spokesperson said that after its meeting in Luxembourg on 3 October, the Eurogroup would meet again later in the month, possibly in Brussels or by video, to examine the situation in Greece and the fact-finders' report, to be submitted to eurozone finance ministers. Assuming they make a positive assessment, the sixth instalment of aid for Greece (€8bn, from the first bailout) can be paid out. The extra meeting would take place as soon as possible, said the spokesperson, pointing out that the fact-finders would need a few days to put the finishing touches to its report, and likewise, the finance ministers would also need a few days. Everything will be done to prevent Greece defaulting on its debts.
Collateral. On Wednesday, the Finnish parliament endorsed the 21 July eurozone summit decisions about the second Greek bailout and giving the EFSF bailout fund more teeth. Ten eurozone countries have so far given the green light to the 21 July decisions and Germany will be deciding on the matter on Thursday 29 September. The Finnish government is still calling for collateral from Greece for the Finnish section of its loans, but the form the collateral will take has not been announced (possibly cash in a special bank account or a share of Greece's family silver?) but it is reported that there will be a cost for the country demanding the collateral. The greatest uncertainty surrounds the vote in Slovakia, where the government is opposed by a fringe of the Liberal party (part of the ruling coalition). (MB/transl.fl)