Athens works on contingent fiscal plan to satisfy lenders and complete review

Series Title
Series Details 24.04.16
Publication Date 24/04/2016
Content Type

The institutions and the Greek Minister for Finance, Euclid Tsakalotos, briefed the Eurogroup on 22 April 2016 regarding the state of play in the ongoing first review of Greece's macroeconomic adjustment programme.

For the review to be completed, the institutions and the Greek authorities should reach an agreement on a comprehensive package of policy reforms to be implemented by Greece.

Significant progress had been made in recent weeks, but further work was still needed on a number of policy areas, including fiscal strategy and the privatisation fund.

The Eurogroup urged the Greek authorities to swiftly agree with the institutions on the reform package which should also cover issues such as contingency measures and non-performing loans.

Although the Eurogroup was hopeful that agreement would be possible in the following days, negotiations came to a halt on 26 April 2016. Therefore, a new meeting of the Eurozone finance ministers was postponed until the deadlock was solved.

On the 27 April 2016 Greek Prime Minister Alexis Tsipras requested a special European Council summit to break the deadlock but European Council President Donald Tusk rejected the call. However, on the same day Eurogroup President Jeroen Dijsselbloem said that Greece and the institutions were 'getting close to a deal' on the contingency measures and that a Eurogroup meeting might be convened very soon.

EU officials confirmed on the 28 April 2016 that a special Eurogroup meeting would be held on the 9 May 2016.

Source Link Link to Main Source http://www.ekathimerini.com/208150/article/ekathimerini/news/athens-works-on-contingent-fiscal-plan-to-satisfy-lenders-and-complete-review
Related Links
ESO: Background information: Eurogroup meeting, 22 April 2016 http://www.europeansources.info/record/eurogroup-meeting-22-april-2016/
ESO: Background information: Greek gov't reacts to WikiLeaks claims about IMF conversation on Greek bailout / Greece: Endgame for the IMF-EU Feud over Greece's Debt http://www.europeansources.info/record/greek-govt-reacts-to-wikileaks-claims-about-imf-conversation-on-greek-bailout-greece-endgame-for-the-imf-eu-feud-over-greeces-debt/
EUObserver, 22.04.16: 'Don't expect any deals' on Greece today https://euobserver.com/economic/133176
EUObserver, 22.04.16: Lenders press Greece to adopt conditional laws https://euobserver.com/economic/133178
Kathimerini, 23.04.16: Lenders ask Greece to prepare contingency package of extra reforms http://www.ekathimerini.com/208134/article/ekathimerini/business/lenders-ask-greece-to-prepare-contingency-package-of-extra-reforms
Greek Reporter, 22.04.16: Greece Must Legislate Contingency Measures, says Eurogroup Chief http://greece.greekreporter.com/2016/04/22/greece-must-legislate-contingency-measures-says-eurogroup-chief/
Euronews, 22.04.16: Eurogroup: progress but no Greek reform deal yet http://www.euronews.com/2016/04/22/eurogroup-progress-but-no-greek-reform-deal-yet/
The Guardian, 22.04.16: Greek bailout deal talks constructive, say EU finance ministers http://www.theguardian.com/business/2016/apr/22/greek-bailout-deal-talks-constructive-say-eu-finance-ministers
BBC News, 22.04.16: Greece bailout talks make 'progress' http://www.bbc.co.uk/news/business-36114491
The Wall Street Journal, 22.04.16: Greece and Its Creditors Make Progress on Differences http://www.wsj.com/articles/imf-to-scrutinize-greeces-2015-deficit-data-1461310607
Kathimerini, 20.04.16: Lenders split over path ahead for Greece http://www.ekathimerini.com/208120/article/ekathimerini/news/lenders-split-over-path-ahead-for-greece
EurActiv, 27.04.16: No Eurogroup meeting before Greek Orthodox Easter http://www.euractiv.com/section/euro-finance/news/no-eurogroup-meeting-before-greek-orthodox-easter/
EUObserver, 27.04.16: Tsipras calls for EU summit as bailout talks halt https://euobserver.com/economic/133229
Politico, 27.04.16: Eurogroup delay on Greece may not be deathblow http://www.politico.eu/article/eurogroup-delay-on-greece-may-not-be-deathblow-alexis-tsipras-greek-bailout/
Kathimerini, 26.04.16: Eurozone chief to decide Wednesday on new Greece talks http://www.ekathimerini.com/208200/article/ekathimerini/news/eurozone-chief-to-decide-wednesday-on-new-greece-talks
Kathimerini, 26.04.16: Plans for Thursday Eurogroup dropped, Tsipras set to ask for special EU summit http://www.ekathimerini.com/208217/article/ekathimerini/news/plans-for-thursday-eurogroup-dropped-tsipras-set-to-ask-for-special-eu-summit
EurActiv, 28.04.16: Tsipras requests extraordinary EU summit to break debt talks deadlock http://www.euractiv.com/section/euro-finance/news/tsipras-requests-extraordinary-eu-summit-to-break-debt-talks-deadlock/
EUObserver, 27.04.16: EU rejects Greek calls for bailout summit https://euobserver.com/economic/133234
Kathimerini, 27.04.16: Tusk rejects Tsipras's summit request but Dijsselbloem says Eurogroup may be held soon http://www.ekathimerini.com/208254/article/ekathimerini/news/tusk-rejects-tsiprass-summit-request-but-dijsselbloem-says-eurogroup-may-be-held-soon
EurActiv, 28.04.16: [Opinion]: The Greek crisis: European madness http://www.euractiv.com/section/euro-finance/opinion/the-greek-crisis-european-madness/
Euro|Topics: Debates, April 2016: An end to the Greek row in sight? http://www.eurotopics.net/en/157849/an-end-to-the-greek-row-in-sight
Kathimerini, 29.04.16: Greek deal closer, euro zone finance ministers to meet May 9 http://www.ekathimerini.com/208293/article/ekathimerini/business/greek-deal-closer-euro-zone-finance-ministers-to-meet-may-9
EurActiv, 29.04.16: Eurogroup to meet over Greek bailout on Europe Day http://www.euractiv.com/section/euro-finance/news/eurogroup-to-meet-over-greek-bailout-on-europes-day/
EurActiv, 04.05.16: Tusk urges Greek debt deal ‘very soon’ http://www.euractiv.com/section/euro-finance/news/tusk-urges-greek-debt-deal-very-soon/
EUObserver, 29.04.16: EU sides with embattled Greek PM in bailout talks https://euobserver.com/economic/133270

Countries / Regions ,