The way opens for debt relief

-New pre-election "weapon" in the arsenal of Samaras - the lenders are now before their responsibilities

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ENGLISH NEWS
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The Prime Minister, Antonis Samaras is expected to add a powerful weapon in his arsenal, in view of elections in May.

Tomorrow, Wednesday, April 23, barring unforeseen, Eurostat will confirm solemnly the achievement of the unprecedented primary surplus in 2013.

This development opens the way for a new debt relief. Positive news flow will followed immediately after, culminating the Eurogroup on May 5, in which the Minister of Finance, Mr. G. Stournaras will present Greece’s new developmental model to his counterparts and invite them to make commitments for further action concerning the settlement of Greek debt .

It is obvious that lenders are now before their responsibilities and the minimum that can expect the Greek government is a positive statement in Eurogroup, two weeks before the election.

The primary surplus, according to what has recently announced the Deputy Minister of Finance, Mr. Ch. Staikouras, will be around at 3.4 billion euros, according to the European Accounting System. Indeed, according to the program agreed with the troika, the primary surplus in 2013 was about 1.4 billion, allowing its distribution.

The very next day, April 24, is expected to meet the Euro-working Group, in order to approve the disbursement of 6.3 billion which are part of the first tranche of 8.3 billion Euros.

Next step is the filing and adoption of the updated Medium Term and organic Law which includes provisions for the control and fiscal stability. The two bills must be submitted by the end of the month and be voted until May 5.

Also, according to "Kathimerini" newspaper, will be raised the issue of the debt, with the intention of the Greek side to the extension of the repayment of loans from the Euro-zone in 50 years from 30 currently. Most importantly, however, is to convert the floating rate of bilateral loans under the First Memorandum, into fixed.

The challenge for the economic team is to "lock" the current low interest rate of these loans - which stands at about 0.8% - for the entire bout (30 or 50 years) or at least for the next 15 years.