German ‘grey finance experts’ to help Greece

German 'grey finance experts' to help Greece
Photo: DPA
The International Monetary Fund wants to assemble a pool of German pensioners with finance expertise to help Greece establish a functioning financial system, it was reported on Saturday.

The business magazine Wirtschaftswoche reported that IMF Chief Christine Lagarde is hoping to attract retired German financial experts to help out ailing Greece.

She is said to be looking for people with tax experience and also those who held management positions.

Some 170 tax experts from German state and federal finance offices have already offered their services to the Greek tax authorities. But according to State Secretary Hartmut Koschyk only seven of these experts have actually been sent to Athens to help out.

They offered advice in two and three-day workshops to Greek finance officials, especially in the areas of how to deal with large companies, wealthy individuals, tax audits and enforcement.

Meanwhile, Focus magazine reported on Saturday that Greece is expected to receive its latest bailout instalment of €31 billion. A report due soon from Europe’s “Troika” of advisors – the European Union, the IMF and the European Central Bank – is expected to allow the money to be released.

The magazine said it remains unclear when that report will be released, but an oral mid-way report about Greece’s situation is expected when EU finance ministers meet in Luxembourg on October 8.

The Local/mw

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