Friday

22nd Sep 2017

Greek elections pushed back to April

  • The technocratic administration of Lucas Papademos looks set to rule longer than envisaged (Photo: Gerard McGovern)

A general election in Greece to replace the technocratic administration of Prime Minister Lucas Papademos has been pushed back to April, governing parties have agreed, although the precise date remains unclear.

The current government needs two additional months to settle plans outlining fresh austerity and structural adjustment demanded by international lenders and to complete negotiations with creditors over a multi-billion-euro debt write-down.

Thank you for reading EUobserver!

Subscribe now and get 40% off for an annual subscription. Sale ends soon.

  1. €90 per year. Use discount code EUOBS40%
  2. or €15 per month
  3. Cancel anytime

EUobserver is an independent, not-for-profit news organization that publishes daily news reports, analysis, and investigations from Brussels and the EU member states. We are an indispensable news source for anyone who wants to know what is going on in the EU.

We are mainly funded by advertising and subscription revenues. As advertising revenues are falling fast, we depend on subscription revenues to support our journalism.

For group, corporate or student subscriptions, please contact us. See also our full Terms of Use.

If you already have an account click here to login.

Speaking to a meeting of the political council of the centre-left Pasok, finance minister Evangelos Venizelos told his party colleagues that elections would be later than the 19 February date originally agreed.

"Elections will be held after Easter, in late April," he said, according to Agence France Presse.

The three major parties had backed the mid-February date ahead of the formation of a grand coalition government in November following the resignation of former leader George Papandreou.

However, the conservative New Democracy party has reportedly dropped its insistence on the earlier date. But the party has drawn a line at 15 April - Greek Orthodox Easter.

Venizelos told his colleagues that the vote would be held after Easter.

Pasok, languishing in the polls, for its part is happy to see the technocratic administration continue well past the spring holiday.

The Papademos government needs more time to haggle with banks over the details of a €100 billion hair-cut to their holdings of government debt.

In October, financial institutions had agreed to a 50 percent write-down on Greek sovereign bonds as part of a second bail-out package, but the fine print has yet to be decided.

Both the negotiations with banks and the planks of the new austerity and structural adjustment programme must be endorsed by the parliament before the first major tranche of the new €130 billion bail-out can be released.

Inspectors from the troika of the European Union, the European Central Bank and the International Monetary Fund are to return to the Greek capital in January to perform an assessment of how the new administration has improved on the former government in adhering to debt reduction targets imposed under the first bail-out scheme.

The troika officials will also consider how Athens is proceeding with new austerity plans required by lenders involved in the second rescue.

Future Greek governments must be bound to austerity strategy

The European Union has insisted that no matter what political flavour of government is elected in Greece well into the future, they must all be bound to the current austerity strategy imposed by the bloc and the International Monetary Fund.

ECB man to rule Greece for 15 weeks

Lucas Papademos, a former vice-president of the European Central Bank, is to be sworn in as prime minister of Greece for a 15-week period in which he will pass laws on an EU bail-out package.

EU takes time to ponder tech giant tax

The EU commission published a paper that outlined several options on how to increase tax income from internet companies' activities, but fell short of proposing legislation.

EU commission changes gear on trade

The EU executive seeks new deals with Australia and New Zealand, while aiming to overhaul the global investment protection system. It also wants to screen foreign investments.

EU preparing to screen Chinese investments

The EU is to screen foreign investments to avoid takeovers in sensitive sectors. But the plan, mainly aimed at China, will raise political and technical difficulties.

Investigation

EU bank accused of muzzling watchdog

An ongoing review of the the European Investment Bank's "complaints mechanism" could make the oversight branch less independent and less effective.

Stakeholders' Highlights

  1. Mission of China to the EUGermany Stands Ready to Deepen Cooperation With China
  2. World VisionFirst Ever Young People Consultation to Discuss the Much Needed Peace in Europe
  3. European Jewish CongressGermany First Country to Adopt Working Definition of Antisemitism
  4. EU2017EEFour Tax Initiatives to Modernise the EU's Tax System
  5. Dialogue PlatformResponsibility in Practice: Gulen & Islamic Thought
  6. Counter BalanceHuman Rights Concerns Over EIB Loan to the Trans Anatolian Pipeline Project
  7. Mission of China to the EUChina Leads the Global Clean Energy Transition
  8. CES - Silicones EuropeFrom Baking Moulds to Oven Mitts, Silicones Are a Key Ingredient in Kitchens
  9. Martens CentreFor a New Europeanism: How to Put the Motto "Unity in Diversity" Into Practice
  10. Access MBAGet Ahead With an MBA Degree. Top MBA Event in Brussels
  11. Idealist QuarterlyIdealist Quarterly Event: Building Fearless Democracies With Gerald Hensel
  12. Mission of China to the EUPresident Xi Urges Bigger Global Role for Emerging Economies

Latest News

  1. Leave politics out of agencies debate, says Polish minister
  2. Facebook helping Germany to stop Russian meddling
  3. It's time to de-escalate the situation in Catalonia
  4. Barnier: UK risks undermining trust in Brexit talks
  5. EU 'embarrassed' by Catalan 'taboo'
  6. EU-funded lobbying is expensive and undemocratic
  7. EU takes time to ponder tech giant tax
  8. Dieselgate disappointed car-loving commissioner