Troika Report Gives Details Into Greek Restructuring Efforts
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According to a number of sources Wednesday afternoon, a recent Troika draft report is offering some details of the austerity measures coming out of Greece.
Officials will cut the minimum wage by about 20 percent, lower pension payments and reduce the state's headcount by about 15,000 positions. Bids for a number of public assets including Hellenic Petroleum, Athens Water & Sewage, gas supplier Depa and grid operator Desfa are also being considered.
The draft report showed an expected 5 percent decline in Greek GDP this year, but a return to growth next year.
US stocks seem to have ticked higher since word of the Troika report began hitting wires. The Dow is now up 1 point, the Nasdaq is up about 9.5, and the S&P 500 is up about 2 points.
Officials will cut the minimum wage by about 20 percent, lower pension payments and reduce the state's headcount by about 15,000 positions. Bids for a number of public assets including Hellenic Petroleum, Athens Water & Sewage, gas supplier Depa and grid operator Desfa are also being considered.
The draft report showed an expected 5 percent decline in Greek GDP this year, but a return to growth next year.
US stocks seem to have ticked higher since word of the Troika report began hitting wires. The Dow is now up 1 point, the Nasdaq is up about 9.5, and the S&P 500 is up about 2 points.
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