Euclid Tsakalotos

The EuroWorking Group (EWG) meeting on Wednesday concluded that Greece has completed the implementation of the reforms agreed with its creditors and will recommend the disbursement of an outstanding 1-billion-euro tranche to the country at the Eurogroup scheduled for Friday, according to eurozone sources.

The Greek government continued to appear divided on Wednesday over the matter of whether to pay a one-off benefit to civil servants and public sector pensioners, amid pressure from both its supporters ahead of elections and the country's creditors.

The timing of Tuesday's disagreement between Finance Minister Euclid Tsakalotos and Deputy Labor Minister Tasos Petropoulos over whether the leftist government plans to pay a one-off benefit to public sector workers and pensioners in the form of an Easter bonus was not incidental.

When Deputy Labour Minister Tasos Petropoulos announced the prospect of handing out an Easter bonus to pensioners and civil servants (holiday bonuses were abolished by the bailout memorandums), Finance Minister Euclid Tsakalotos to hastened to nip the idea in the bud.

Finance Minister Euclid Tsakalotos on Tuesday denied claims by Deputy Labor Minister Tasos Petropoulos that the government was planning to pay a one-off benefit to civil servants and public sector pensioners in the form of an Easter bonus.

Finance Minister Euclid Tsakalotos denied claims by Deputy Labor Minister Tasos Petropoulos that the government was planning to pay a one-off benefit to civil servants and civil service pensioners in the form of an Easter bonus.

Last Monday the finance ministry tabled in Parliament an emergency amendment to a health ministry bill pompously entitled "Modernisation and Restructuring of the Institutional Framework of Private Clinics, Establishment of a Public Health Organisation and Establishment of a National Organisation for Neoplasia, and other provisions".

Finance Minister Euclid Tsakalotos on Tuesday did not rule out the retroactive payment of holiday bonuses to civil servants and pensioners, provided the fiscal targets are not affected and the Council of State rules in their favor.

Yesterday's meeting between Finance Minister Euclid Tsakalotos and Bank of Greece Governor Yannis Stournaras just two days before the European Commission's report on the Greek economy reveals the government's concern over the problems that lie ahead, the most important of which is the looming problem of  non-performing loans (NPLs) that has burdened the banks and the economy in general.

What Finance Minister Euclid Tsakalotos dared to say is the self-evident, at least for democratic countries. He said that in the unlikely and unfortunate event that New Democracy comes to power after the next general election, SYRIZA will support it in efforts to renegotiate the currently very high primary surplus targets agreed to with creditors.