Dimitris Rapidis

The answer to this question comes from another question: How many are the troikans finally and how many will join them in the near future? And this comes after Chancellor Merkel’s declared intention to assist Greek authorities towards moving ahead to structural reforms in public administration. In this context, if public administration services are not destined to function according to the German model, no investments could work out.

This is the critical reason why H-J Fuchtel, responsible for promoting and monitoring EU financed programs in Greece, and the Task Force of Greece, which is responsible for providing Greek authorities with the necessary technical assistance, will be assisted with additional personnel which according to information will exceed the number of 350. In this number if we add another 40 technical executives of troika that are constantly visiting Greek minitries before the official arrival of troika, then we have a total sum of over 400. So finally, what is the estimated cost of these executives charged with “rescuing” Greece?

According to sources from the Ministry of Finance, the estimated total cost of these 400 troikans reaches something around 1,2 million euro per month. Furthermore, we need to underline that this cost is indicative as we need to add a certain amount per day for each member of the troika that comes to Athens, stays in a hotel, visits the Ministries, and so on. The heads in charge, like Fuchtel, Horst Reichenbach -i.e. appointed by European Commission President J.M. Barroso to lead the Task Force- European Commission’s Matthias Mors, IMF’s Paul Thomsen, and ECB’s Klaus Masuch are all receiveing compensations of about 800 euro per day each time they travel to Athens. In addition to that, all five have rented luxurious apartments in nice suburbs in the north and center of Athens, while they charge with additional costs the Ministries of Public Reform, Finance, and Public Security as they are provided with 30 police officers and special cars for their own security.

Besides the money troikans receive from the Greek public administration fund, they equally receive compensation for the services they offer. It is estimated that the monthly revenue of the five delegates in charge exceeds the amount of 35,000 euro overall.

I personally believe that troika and its members are consistently “gumbling” with the negotiational limits and the entire preparation of the Greek Ministers and their executive groups. Especially during their latest visits in Athens, with major issue the discussion over the new austerity package and the prerequisites for a new loan, troika has delicately established an information-leakage mechanism so that to ignite the spreads and CDS over the possible bankrupcy of Greece. As a matter of fact, while declaring that Greece has made significant steps towards re-gaining credibility in the markets, troika simultaneously advocates for further cuts over wages and pensions and further increases on fiscal measures. This absurd behavior has a double effect: it streams media with asymmetric informaton, while puzzling the financial reports of the banking institutions over the conditions and progress of the Greek economy. In this respect, the results of troika reports over the progress of the Greek economy are so meticulously contesting that global media news feeds like Reuter’s, Blommberg or Dow Jones Newswire cannot layout a complete image of what is really going on with Greece.

After all, there is a growing feeling in the Greek society that troika is systematically trying to block negotiations and create conditions of chaos. Nonetheless, even if this assumption is to be justified, I am really wondering whether any EU, ECB or IMF delegate has ever pondered about the real hardship the Greek people are going through. But going deeper, I am also realizing that it is not troika to blame for, but the Greek government which is supposedly elected to represent the interests of the Greek people and it is doing nothing more than lightheartedly violating them.

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