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Europe Daily Bulletin No. 11418
Contents Publication in full By article 15 / 25
ECONOMY - FINANCE / (ae) greece

Athens and Commission define outlines of technical aid

Brussels, 26/10/2015 (Agence Europe) - On Monday 26 October, the European Commission and Greece published a partnership agreement laying down the outlines of the technical aid provided by Europe to accompany the process of reforms in Greece.

This technical assistance will cover a vast range of areas. It will, for instance, seek to help the Greeks to ensure sustainable public finances capable of supporting growth and employment. In this area, for instance, the parties will work to improve the institutional framework of the revenue administration to ensure that it is able to work independently of the political level and to equip it appropriately.

As regards social security, assistance will be provided to modernise the healthcare system and to introduce a guaranteed national minimum income. The Commission's technical support will also cover reforms in the financial sector, such as the management of non-performing loans, the governance of the financial sector and seeking alternative sources to banks for the financing of the economy.

The support will also include the drafting of a new growth strategy and will accompany the programme privatisations. Lastly, the reform of the public administration and of the legal system, the fight against corruption and reinforcing the migration management capability will be included.

It is crucial that there is political will and national ownership of reforms in Greece (…). I am convinced that through the implementation of the reform programme, and effective use of EU funds in support of investment, employment and social inclusion, Greece will return to financial stability, economic growth and job creation”, said the Vice-President of the Commission, Valdis Dombrovskis, speaking from Athens. The technical support will also seek to secure more efficient use of EU funds.

On Sunday, in an interview with the Greek newspaper To Vima, Dombrovskis said that Greece had not a minute to lose in the implementation of reforms. Greece had until 15 October to set in place the first raft of prior actions to the payment of €2 billion from the ESM, but the deadline has been extended until the end of the month, an institutional source explained (see EUROPE 11417). On Monday, the Vice-President of the Commission stressed that there was a “clear will” of the parties to resolve the issue of real estate foreclosures. The decision of the government to dismiss the Secretary General for Public Revenue, Katerina Savvaidou, who was appointed by the Samaras government, was also to be discussed during Dombrovskis' visit. Late last week, the Commission said that it was awaiting clarifications from the Greek authorities. (Original version in French by Elodie Lamer)

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