3% GDP agreed between Greece and creditors, source says

29 March 2016
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According to a Greek government source, the measures demanded by the Quartet will amount to 3 percent of the GDP and not 4.5 percent as previously thought.

Following Monday’s economic cabinet meeting it came to light that the Greek government and its creditors have agreed on economic measures of more than 5 billion Euros. ‘We are not going for measures over 4.5 percent that the IMF wants, but 3 percent of GDP, meaning about 5.5 billon Euros’, revealed a government source on condition of anonymity.

A divergence of opinion between Greece and its lenders also exists on the height of the 2018 tax revenue, the sum of which has been set to 1.8 billion Euros. The same source expressed concern over the stance by German Finance Minister Wolfgang Schauble on the issue of the Greek debt relief, which the government is pushing to be included in the talks.

He said even the IMF agrees it should be examined. The Greek government’s goal is to have talks wrapped up with its creditors by April 15.

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