Greece under fire as creditors lose patience / Greece to push through 2014 budget without creditors’ approval

While Ireland and Spain received praise from the EU in November 2013 as they announced plans to exit their bailout programmes, Greece was cast as the villain of the piece at a meeting of euro finance ministers on the 14 November 2013.

Greece was expected to return to economic growth in 2014 after six years of recession, which had wiped out more than 25% of economic output.

But momentum had stalled according to the autumn 2013 review of Greece's programme by Troika officials representing the country's creditors - the European Commission, International Monetary Fund, and the European Central Bank.

Eurozone finance ministers pressed Greece to speed up structural reforms and continue fiscal consolidation and privatisation to unblock more of the international loans that keep it afloat.

EUObserver reported on the 21 November 2013 that Greece's 2014 budget was set to hit the statute book without the approval of the country's creditors, after the country's government tabled its spending plans to the Greek parliament.

• Primary Source

ESO: Background information: Press Release: Statement on the review mission to Greece http://www.europeansources.info/record/press-release-statement-on-the-review-mission-to-greece/

EUObserver, 14.11.13: Greece returns to haunt euro ministers http://euobserver.com/news/122076

ESO: Background information: Greek government survives no-confidence vote http://www.europeansources.info/record/greek-government-survives-no-confidence-vote/

European Commission: The Commissioners (2010-2014): President: The Task Force for Greece http://ec.europa.eu/commission_2010-2014/president/taskforce-greece/index_en.htm

IMF: IMF and Greece http://www.imf.org/external/country/grc/

European Commission: DG Economic and Financial Affairs: Financial assistance to EU Member States: Greece http://ec.europa.eu/economy_finance/assistance_eu_ms/greek_loan_facility/index_en.htm

Kathimerini, 15.11.13: Dijsselbloem: Greece must step up efforts to unlock funds http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_15/11/2013_527947

Kathimerini, 16.11.13: Testing week lies ahead for government http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_16/11/2013_528143

Deutsche Welle, 20.11.13: Unhappy with the Troika, Greece turns to Berlin http://dw.de/p/1AKrn

European Commission: RAPID: Memo, MEMO/13/1033: Statement by the European Commission, ECB and IMF on Greece http://europa.eu/rapid/press-release_MEMO-13-1033_en.pdf

EUObserver, 21.11.13: Greece to push through 2014 budget without creditors' approval http://euobserver.com/news/122191

BBC News, 21.11.13: Eurozone ministers are 'losing patience' with Greece http://www.bbc.co.uk/news/business-25032785

Deutsche Welle, 22.11.13: Germany's Schäuble urges Greece to stick to reform course http://dw.de/p/1AMLA

Financial Times, 21.11.13: Greece sheds incentives for reform (via PressEurop) http://www.presseurop.eu/en/content/article/4339581-greece-sheds-incentives-reform

IMF: Press Release, 21.11.13: Statement by the European Commission, ECB, and IMF on Greece http://www.imf.org/external/np/sec/pr/2013/pr13462.htm

Kathimerini, 22.11.13: Samaras tells Merkel there is 'no hole' in the Greek aid program http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_22/11/2013_529013

Deutsche Welle, 23.11.13: 'Light at the end of the tunnel' for Greece? http://dw.de/p/1AN1Q

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