ATHENS--Greece used special powers to pass a law introducing reforms demanded by international creditors in exchange for the country's next aid tranche in time for Tuesday's Eurogroup meeting.
The Greek government, using special decrees, tidied up a host of outstanding actions and reforms agreed with Greece's international creditors, following approval by cabinet ministers during marathon weekend meetings chaired by Prime Minister Antonis Samaras.
The government used the extraordinary legislative procedure to bypass parliament in an effort to avoid another fractious vote that could cause friction in the fragile three-way governing coalition.
Euro-zone finance ministers, the European Commission and the European Central Bank are due to meet in Brussels Tuesday to discuss the disbursement of 31.5 billion euros ($40.1 billion) in aid to the country amid differences on how to lower Greece's growing debt pile.
The decrees include steps to liberalize so-called closed shop professions, such as taxis and fuel tanker trucks, filling in the gaps from a multi-billion-euro austerity bill approved by lawmakers earlier this month.
They also target stricter supervision of public sector budgets and measures to ensure ministries and local authorities stick to their fiscal targets.
The decrees also speed up reforms at state entities and allow for alternative fiscal measures to be introduced if budget or privatization targets are missed. In addition, money raised from privatizations will be paid into an escrow account at the Bank of Greece and used solely to pay down public debt.
The decrees also pave the way for pay and pension benefits of employees at Greece's parliament to be brought in line with other public sector workers.
After meeting with Mr. Samaras late Sunday, Finance Minister Yannis Stournaras said Greece "is more than ready for" Tuesday's Eurogroup meeting and that "there are no longer any outstanding issues on our behalf."
Athens is hoping euro-zone ministers will sign off on its next slice of aid from its second EUR173 billion bailout, though officials from the country's international creditors have indicated that no final decision on Greece should be expected.
Differences between the International Monetary Fund and euro-zone governments on how to bring down Greece's debt burden to a sustainable 120% of annual economic output is delaying the release of the financial aid.
The IMF wants Greece's debt to be cut to that level by a 2020 deadline, but with the economy continuing to slide the country's debt level is now expected to rise to 190% of gross domestic product next year making that target out of reach.
Citing "exceptionally urgent" conditions, Greece introduced the reforms Monday through a cabinet decree, rather than a regular bill which requires approval by lawmakers, to avoid a potentially risky parliamentary vote which could have led to the defection of more coalition deputies, particularly from the junior Pasok and Democratic Left parties.
Earlier this month, the three-party government struggled to pass a new wave of spending cuts and reforms after more than a dozen coalition lawmakers balked at the measures.
Parliament must approve the decrees within 40 days, but does so under expedited procedures that restrict the time for debate.
"We approved them (the decrees) after pressure from the government, but we cannot continue to do this in the future as this (emergency decrees) is not the way to legislate without discussing such measures in parliament," said Christos Protopappas, parliamentary spokesman for the socialist Pasok party, the second-largest partner in the three-party coalition government which, in addition to the Democratic Left, includes the conservative New Democracy party.
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The Greek government, using special decrees, tidied up a host of outstanding actions and reforms agreed with Greece's international creditors, following approval by cabinet ministers during marathon weekend meetings chaired by Prime Minister Antonis Samaras.
The government used the extraordinary legislative procedure to bypass parliament in an effort to avoid another fractious vote that could cause friction in the fragile three-way governing coalition.
Euro-zone finance ministers, the European Commission and the European Central Bank are due to meet in Brussels Tuesday to discuss the disbursement of 31.5 billion euros ($40.1 billion) in aid to the country amid differences on how to lower Greece's growing debt pile.
The decrees include steps to liberalize so-called closed shop professions, such as taxis and fuel tanker trucks, filling in the gaps from a multi-billion-euro austerity bill approved by lawmakers earlier this month.
They also target stricter supervision of public sector budgets and measures to ensure ministries and local authorities stick to their fiscal targets.
The decrees also speed up reforms at state entities and allow for alternative fiscal measures to be introduced if budget or privatization targets are missed. In addition, money raised from privatizations will be paid into an escrow account at the Bank of Greece and used solely to pay down public debt.
The decrees also pave the way for pay and pension benefits of employees at Greece's parliament to be brought in line with other public sector workers.
After meeting with Mr. Samaras late Sunday, Finance Minister Yannis Stournaras said Greece "is more than ready for" Tuesday's Eurogroup meeting and that "there are no longer any outstanding issues on our behalf."
Athens is hoping euro-zone ministers will sign off on its next slice of aid from its second EUR173 billion bailout, though officials from the country's international creditors have indicated that no final decision on Greece should be expected.
Differences between the International Monetary Fund and euro-zone governments on how to bring down Greece's debt burden to a sustainable 120% of annual economic output is delaying the release of the financial aid.
The IMF wants Greece's debt to be cut to that level by a 2020 deadline, but with the economy continuing to slide the country's debt level is now expected to rise to 190% of gross domestic product next year making that target out of reach.
Citing "exceptionally urgent" conditions, Greece introduced the reforms Monday through a cabinet decree, rather than a regular bill which requires approval by lawmakers, to avoid a potentially risky parliamentary vote which could have led to the defection of more coalition deputies, particularly from the junior Pasok and Democratic Left parties.
Earlier this month, the three-party government struggled to pass a new wave of spending cuts and reforms after more than a dozen coalition lawmakers balked at the measures.
Parliament must approve the decrees within 40 days, but does so under expedited procedures that restrict the time for debate.
"We approved them (the decrees) after pressure from the government, but we cannot continue to do this in the future as this (emergency decrees) is not the way to legislate without discussing such measures in parliament," said Christos Protopappas, parliamentary spokesman for the socialist Pasok party, the second-largest partner in the three-party coalition government which, in addition to the Democratic Left, includes the conservative New Democracy party.
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