euro ellada 2015Dear colleagues, do you remember Orwell's new speech? I believe it was in 1984, written soon after the second world war. Now March 2015 be aware when interpreting greek government officials there are some terms like "memorandum" and "troika" that are obsolete and are gone; instead new words and euphemisms have multiplied.Last week I discovered articles in a variety of newspapers like Ta Nea, Proto Thema and Wall Street Journal.

Here's a short glossary (for interpreters and translators) to understand what's in for now:

Brussels Group: Maybe it is the same team and easy forwards to translate.
The five parties that started technical negotiations in Brussels mid March 2015. It includes representatives from Greece's

international creditors — the European Commission, the European Central Bank and the International Monetary Fund, (Yes it was ) formerly known as troika — the European Stability Mechanism — the eurozone bailout fund — and the Greek government. The Brussels Group is expected to become a substitute for the terms "troika" and its replacement "institutions." So far so good. Wright?
Brussels Group (BG) ομάδα διαβούλευσης των Βρυξελών θα ονομάζεται από εδώ και στο εξής το σχήμα διαπραγμάτευσης στο οποίο μετέχουν στελέχη από την Ευρωπαϊκή Επιτροπή, την ΕΚΤ, το ΔΝΤ, το ESM/EFSM, καθώς και από την Ελλάδα ... για της διαπραγματεύσεις τεχνικών κλιμακίων.

Institutions:
θεσμοί
Anther steigt forward terminology to translate and or interpret. Yes? Keep on reading: Institutions as a term was initially used by the Greek government to describe the troika of international inspectors that were regularly visiting Athens to assess the government's progress on implementing policy overhauls and budget cuts. Many eurozone finance ministers from different countries have tried to adjust to this new term, although the switch-over isn't universal. While French Finance Minister Michel Sapin said Monday (mid March 2015) it was important to make the effort, Germany's Finance Minister Wolfgang Schäuble clearly doesn't think so. He used the word "troika" three times in a one-minute statement to the press that same day. But it is all question of content and power politics. Please correct me if I'm misleading.

Agreement, (Current Agreement):
συμφωνία
The term now used to describe Greece's existing bailout deal, is now called Current Agreement) which sets out the measures it needs to implement to get new funds. The document's legal name, "Memorandum of Understanding" or MoU, has fallen out of favor (or been ripped up, in the words of Greek Prime Minister Alexis Tsipras). It has also been known as "program." Some say these are names used for internal political purposes, since the new National Assembly and Parlement needs to showcase a clear cut in Austerity politics and new approaches. Of course some time is needed. Stay tuned and please read on.

Contract for Recovery & Growth of the Greek Economy:
The title chosen by the Greek government some say from its new finance minister specialist on game theory, for a potential new bailout to be agreed with its creditors by the end of June, when the current one expires. This would be the country's third bailout agreement since 2010.Some argue Greece is since 2009 the first federal country in Europe and can serve as an exemple for european integration. Lets see what history will write in the year 2525 (remember the lyrics to the song?).

Existing Flexibility, Flexibility, Existing :
The term Existing Flexibility is used to describe leeway given to Greece to change some of the measures in the current arrangement. It has different meanings for the Greek government, which wants to rewrite the entire agreement, and its creditors, which want to accept only minor changes. Again as a DG mentioned call it what you want as long as it works. Or was it Mao or a folks wisdom <
Loan Agreement:
The Greek term Loan Agreement used by the Greek government to describe the Master Financial Assistance Facility Agreement, or MFAFA, which sets out when payments under the current arrangement are made (definition above). This was the document that needed to be extended to give Greece an extra four months to explore the the existing flexibility in the current arrangement.

On-Site Exchange of Facts:
No more audits, no more negotiations, nor control, no reviews or any similar terms that question national sovereignty. What the technical teams of the institutions and the Brussels Group will be doing whenever they visit Athens. The Greek government wants this to replace the the regular "reviews" of the program. It has also said that the heads of mission of of the three institutions won't set foot in Athens again. The exchange of facts will be done by "technical advisers," who will only meet Greek officials of the same seniority and not Greek cabinet ministers. Question of counterpart equivalent and power? Maybe.

Ambiguity, constructiv:
Aware dyslectics it is not consecutive, it is constructive.
Ambiguity, constructive introduces a range of interpretation. Even neither consecutive, nor simultaneous. Constructive ambiguity, is a favorite phrase of Greek Finance Minister Yannis Varoufakis that sums up all the previous terms. Remember he is the thinking brain specialized in game theory.
Mr. Varoufakis uses the term both in Greek and English to describe the vagueness of the agreement he has reached with the country's creditors for the extension of the current arrangement. It leaves room to both sides to describe the agreement to their respective constituencies as they wish. Many Greeks, however, aren't convinced by the new nomenclature and have accused the government of "baptizing meat as fish." Of course these non constructive ambiguity critics belong to the so called historical past political impregnated thinking Greeks that signed the original credits or should one go decades or a century back in order to understand how Greece became the firs federal county of Europe?

more
Wall Street Journal
enikos dot gr
The new glossary of the Greek bailout talks explained
WSJ
Tanea dot gr
Protothema dot gr

enallaxnews dot gr

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