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Government spokesman Pandelis Kapsis announced early elections for April and the investment bank Credit Suisse drew up a formidable agenda for Greece for the next two months. What are the critical dates the country must pass in order to avoid uncontrolled bankruptcy?

    13 and 14 February - Greece must meet the other two conditions in order for the Eurogroup meeting to be convened, which will discuss the new bailout to the country. The remaining two conditions in addition to the PSI approved by parliament are written assurances from the leaders of both parties that support the cabinet that they will implement the measures voted by parliament and details on how the Greek government will save another 300 million euro.

    15 February - Eurogroup must approve the PSI and decide to grant the second loan of 130 billion to Greece. On the same date, the International Monetary Fund must release its report on the status of the  Greek debt.

    15 - 17 February - it is possible that the Greek parliament may vote to trigger the collective action clause CACs, with which to oblige all the country's private creditors to agree to write off 50% of the nominal value of the bonds they hold.

    17 February - Greece will formally announce the PSI programme and its private creditors will have three weeks to decide whether they will be involved in it voluntarily.

    By the end of February, the eurozone states will have to ratify the new bailout package to Greece. The German parliament will discuss it on 27 February. In parallel, the Greek Parliament will have to vote all the bills that are the conditions for the second bailout.
    
    5 March - official exchange of old Greek bonds with new bonds with face value reduced by half, lower interest rate and longer maturity following the PSI procedure.
    
    For Mid April early parliamentary elections are scheduled, but before that, the European Central Bank must decide whether to join the PSI, and Greece must decide whether to trigger the collective action clause against its private creditors. The compulsory Greek debt cut will trigger the payment of CDS insurance. This means that credit rating agencies will put Greece in temporary or partial failure categories and its bonds - in the D category.