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48 conditions on Greece if it is to receive the €2 billion tranche

03 October 2015 / 18:10:02  GRReporter
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A European official has informed the Athens News Agency that the eurozone's working group held a conference meeting yesterday and compiled a list of 40 reforms to be implemented by Greece in the coming weeks. The source stressed that this is the precondition for the tranche of €2 billion.

The specific measures, which have been agreed between the Greek authorities and the creditors, will be presented on Monday at the Eurogroup meeting in Luxembourg.

Reportedly, the first group includes the outstanding liabilities from August, as well as those, which according to the memorandum had to be implemented in September. The second group comprises the measures scheduled for October. Among them are the tax and the pension reforms, the denationalisation of the independent electricity transmission operator, and an overall speeding up of privatisation.

During the conference call, which lasted about an hour, Greece was represented by deputy finance minister Georgios Houliarakis.

The first assessment – in October

"This is a pretty long list including all pending issues from the summer," said the European official for the Ethnos daily, adding that the first evaluation of progress will begin in October. "It is quite likely that the first evaluation begin in October, although it's already been years since I stopped making predictions," he said meaningfully and explained that before the start of the vetting procedure, the Greek authorities will have to implement two heavy policy packages.

The second package is related to the transfer of a €1 billion tranche; its measures will have to be agreed between the Greek authorities and the creditors before late October. The official emphasized that most reforms are interrelated and therefore equal in importance.

The first Eurogroup after the elections

"Greece is the first item on the agenda of the Eurogroup on Monday," said an EU official and pointed out that the meeting of Eurozone finance ministers will be relatively brief and no decisions will be taken. Apart from the list of reforms, Minister of Finance Efklidis Tsakalotos is expected to advise his colleagues on how to implement the measures agreed, as well as on the strategic choices facing the new Greek government.

"This is the first Eurogroup after the election, and Eurozone ministers expect continuity in performance from the new-old Greek finance minister," said a Eurozone representative.

Tags: Eurogroup meeting Eurozone reforms tranche
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