Economy minister meet institutions' 'Quartet' for talks on banks, fiscal targets and privatisations
Recapitalising the banks, fiscal targets and Greek proposals for the privatisations fund were the first order of the day during intensive talks held by Finance Minister Euclid Tsakalotos and Economy, Infrastructure Shipping and Tourism Minister George Stathakis on Friday with the "Quartet" - the heads of missions sent to Athens by the institutions representing Greece's creditors (the European Commission, European Central Bank, International Monetary Fund and European Stability Mechanism).
According to a government official, the issue of prior actions was not raised during the meeting.
In statements afterward, Tsakalotos said that a large chunk of the six-hour meeting had focused on recapitalising the banks based on current developments in the financial system and the Greek side's proposals for the privatisations' fund, with the twin aim of both paying down debt and directing funds toward economic growth.
At the same time, particular weight was given to fiscal targets for the next three years in order to reach a primary surplus of 3.5 pct of GDP in 2018.
The talks also raised organisational issues, such as where the meetings will be held and how problems that arise will be promptly addressed so that there are no misunderstandings or differences between the various sides involved. Friday's meeting was held at the hotel where the mission chiefs were staying.
The finance minister said that there was "convergence" on some points and less on others, adding that the discussion was held in a good atmosphere and will continue.
The 'Quartet' has now made its way to the Bank of Greece, where they will meet BoG Governor Yannis Stournaras.
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