Institutional creditors are apparently insisting on the “pre-emptive” legislation of austerity measures after 2018, a standing demand by the IMF – primarily – in order to guarantee that Greece meets primary budget surpluses of 3.5 percent of GDP after the bailout ends.
By N. Bellos
Institutional creditors are apparently insisting on the “pre-emptive” legislation of austerity measures after 2018, a standing demand by the IMF – primarily – in order to guarantee that Greece meets primary budget surpluses of 3.5 percent of GDP after the bailout ends.
Nevertheless, the Greek side, following talks on the sidelines of Thursday’s Eurogroup meeting in Brussels, is still refusing.
The reports emanate from a pre-Eurogroup meeting between Greek FinMin Euclid Tsakalotos, Deputy FinMin Giorgos Houliarakis and representatives of creditors.
If developments prove to be negative on Thursday, then a return of representatives to Athens for negotiations to conclude the second review of the Greek program will be further delayed.
Another new “wrinkle” from Thursday’s talks is the apparent consensus now reached among creditors that the leftist-rightist coalition government in Athens must pass legislation now for austerity measures to guarantee fiscal targets after 2018 – as the Commission had previously taken a position mostly backing Athens.