Despite positive comments by European leaders over the recent period, mostly citing progress in talks between the Greek government and institutional creditors, the so-called “quartet”, differences between the IMF and the remaining three creditors – Commission, ECB, ESM – mean that a closely watched first review of the third Greek bailout program is still pending.
By Nikos Bellos
Brussels
Despite positive comments by European leaders over the recent period, mostly citing progress in talks between the Greek government and institutional creditors, the so-called “quartet”, differences between the IMF and the remaining three creditors – Commission, ECB, ESM – mean that a closely watched first review of the third Greek bailout program is still pending.
A previously set deadline by EU Commissioner Pierre Moscovici for March 27 – western Easter Sunday – has been abandoned in favor for April 22, the date of an informal Eurogroup session in Amsterdam.
The April 22 date is possible if negotiations between Athens and creditors are mostly concluded by an April 11 EuroWorking Group meeting.
The IMF has continued to hold the “strictest” position vis-à-vis the Greek government, oftentimes in opposition to the rest of the creditors.
The risk now is that if creditors don’t agree on common positions and then conclude talks with Athens, then the first review cannot be achieved in April. The coming week will not be conducive to talks, as representatives of creditors are not expected in Athens at least until next week.
May 1 is eastern Easter in Greece.