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31.03.2017 - 22: 06

New challenges creditors mission in Greece

The meeting of the Eurogroup Working Group (ΕWG), dedicated to Greece, did not specify the date of return of the missions of creditors in Athens to ensure that they have completed the second evaluation of the program of the Greek reform, according to business magazine website "Naftemporiki".

ΕWG meeting was delayed until night, but ended without any concrete decisions. However, no one in Brussels is not talking about an impasse in the negotiations, on the contrary, it is believed that the application for the return of the creditors will be done very soon, the newspaper writes.

In addition, the recommendations of the working group refers to the return of the creditors in Athens, but the date of the return it offers to define the government and the heads of missions of the creditors, the newspaper notes.

Heads of Mission should return to Athens no later than early next week to over 2-3 days to reach an agreement in principle on a technical level, which must be approved at the political level at a meeting of the Eurogroup 7 April in Malta.

The agreement will allow Europeans to start negotiations with the IMF on Greek debt sustainability in the framework of the spring session of the IMF-21 23 April, Washington and conclude them before the next Eurogroup 22 of May.

If to all prerequisites and passed laws for the implementation of all requirements of the second evaluation, namely on budget changes, labor law reform and the energy market are met 22 May Greece will be approved by general agreement, which includes the second estimate, the payment of tranches of loans, debt and IMF participation in the program of aid to Greece.

Without a positive assessment of the reform program of Athens can not receive the next tranche of the loan, without which Greece can not service a huge debt in 326 billion euros, or 180% of GDP. 29 of March in the western media reported that Greece and creditors from the EU and the IMF reached an agreement on key labor reforms, energy and reductions in pensions, but neither the Greek Government nor the European Commission have not been confirmed.

A source: RIA News

Author: Gennady Melnik

Tags: Greece, Economy, Credit