Greece’s lenders representatives arrive for evaluation

11 November 2015
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Representatives from Greece’s international lender arrived on Wednesday in Athens to resume negotiations in order to reach an agreement by the end of the week.

According to sources, the meetings with the economic staff will start on Wednesday afternoon. Non-performing loans, the protection of first residence from foreclosures, equal measures for the 23 per cent VAT on private education, the settlement of 100 debt instalments and generic drugs’ prices are the pending issues that need to be resolved for the disbursement of the 2 billion tranche. At the same time, the Finance Ministry brings to Parliament the provisions for uncollected rents and the taxation of income from rents.

16 November is a key date as if an agreement with institutions is achieved, the Euro Working Group will give the “green light” to the disbursement of the 2 billion euro tranche. At the same time, decisions must be taken for the disbursement of the 10 billion euros linked with the recapitalisation of banks.

After the Eurogroup meeting last Monday, Tsakalotos expressed optimism that “we will have good news in a week”. Eurogroup President Jeroen Dijsselbloem speaking at the European Parliament Economic and Monetary Committee was also positive as he estimated that the Greek government will have met all the prior actions by next Monday, so that the 2 billion euro tranche and 10 billion euros for the recapitalisation of the banks is disbursed.

During the institutions’ representatives’ stay in Athens, the second package of prior actions that will give the green light for the disbursement of 1 billion euros will be determined and the procedure for the first evaluation of the economy will start. The 2016 budget should have been submitted to Parliament by 2016 followed by the 2016-2019 mid-term plan (a key element of which will be the necessary structural measures to ensure primary surpluses of 3.5 per cent of GDP from 2017 onwards).

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