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18 Jul 2013
Flash: Greece to vote on reform package – Deutsche Bank
FXstreet.com (New York) - In terms of the European periphery, it’s worth highlighting that the Greek parliament will be voting tonight on a package of reforms that are part of a deal to disburse more funds from international lenders, note Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank.
The reforms include a proposal to put 25,000 public employees in a ‘mobility pool’, which aims to deploy surplus staff to areas with needs. A number of Greek unions have called for a rally outside the parliamentary building this evening and the vote comes not long after the Democratic Left departed from the coalition in protest at the closure of state broadcaster ERT.
Todays vote is scheduled just before Thursday’s visit by German FM Schaeuble. Staying in Greece, German newspaper Sueddeutsche Zeitung is reporting that Greece faces a funding gap of as high as EUR10bn citing European Commission officials. “The EU will have to decide whether to increase financing for Greece after the summer break although it’s unlikely to be detailed before German elections in September.” the analysts add.
The reforms include a proposal to put 25,000 public employees in a ‘mobility pool’, which aims to deploy surplus staff to areas with needs. A number of Greek unions have called for a rally outside the parliamentary building this evening and the vote comes not long after the Democratic Left departed from the coalition in protest at the closure of state broadcaster ERT.
Todays vote is scheduled just before Thursday’s visit by German FM Schaeuble. Staying in Greece, German newspaper Sueddeutsche Zeitung is reporting that Greece faces a funding gap of as high as EUR10bn citing European Commission officials. “The EU will have to decide whether to increase financing for Greece after the summer break although it’s unlikely to be detailed before German elections in September.” the analysts add.