The Greek side is expected to again be on the "receiving end" of pressure by Eurozone partners on Monday during a Eurogroup meeting, with the emphasis being on Athens fulfilling a series of commitments, vis-a-vis creditors, in the post-bailout period.
The Greek side is expected to again be on the "receiving end" of pressure by Eurozone partners on Monday during a Eurogroup meeting, with the emphasis being on Athens' implementation of a series of commitments, vis-a-vis creditors, in the post-bailout period. The Greek delegation will be led by FinMin Euclid Tsakalotos.
The "unofficial" deadline is for "prior actions" to have been completed by January, when auditors will arrive anew in Athens for yet another review of the Greek economy and state finances, as part of European creditors' "enhanced surveillance". Beyond agreed-to reforms in the post-bailout period, the poll-trailing Tsipras coalition government must also deal with two pressing issues, ones linked, in fact: the first touching on the continuing specter of "bad debt" burdening Greek banks, and the second being a new framework to protect primary residences from seizure by creditors. The so-called "Katselis law", which offered legal first residency protection for over-indebted households under certain income and asset criteria, expires on Jan. 1, 2019.
Other "prior actions" that the Greek side must implement include:
- Opening another 120 first-stage health centers around the country by the end of 2018
- Centralized procurement of at least 30 percent of total hospital expenditures extending to 2020, by the end of this month
- A further easing of remaining capital controls
- Commencing the first phase of an e-justice system, also by the end of 2018
- An "exit strategy" by the Hellenic Financial Stability Fund (HFSF), by the end of the year, one that includes the sale of its stakes in Greece's four systemic banks
- Concluding debate over the minimum monthly wage scale
- Concluding a handful of closely watched privatizations and liberalization of the energy sector, including the slow-moving de-investment of PPC from the lignite-fired power sector.