The 9bln Euro measures to be discussed at the Eurogroup

The progress of negotiations between Greece and its creditors is turning into somewhat of a ‘mystery’. Despite the Greek government’s attempt to foster a sense that a deal is very close, the Quartet does not seem to share its optimism.

Greek Finance Minister Euclid Tsakalotos will leave for Friday’s Eurgroup meeting in Amsterdam with the ‘trump card’ of the European Commission’s forecast that the country’s primary surplus will be 0.5-0.7 percent of GDP (1bln Euros), compared to the IMF’s worse predictions of a 0.6 percent deficit.

The Greek government is attempting to exploit the apparent rift between the MF and its EU partners, as it is not clear whether the institutions have agreed on more ‘preventative measures’ A Greek official admitted that the best result the Greek side expects after Thursday’s meetings with the Quartet is an official statement today by the Eurogroup of another emergency meeting in the immediate future, either before of after Orthodox Easter.

If the meeting is announced for before Easter this would mean the other member-states are also optimistic of a deal. The key factor for a possible agreement are the additional ‘preventative measures’ worth 3.6bln Euros requested by the IMF in Washington.