Eurogroup: No agreement on debt or the evaluation!

23 May 2017
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The Eurogroup, after many hours of negotiations has ended.
There is no agreement regarding the debt issue, which will however be discussed in detail on June 15th. The differences with the IMF still remain, although there is some optimism regarding the final outcome of the negotiations.

There are very few details left to conclude the evaluation of the Greek program, something that is expected to take place in the following days. The Eurogroup recognizes the efforts of Greece and the big number of reforms.
This means, however, that the evaluation is still open as well.

The Eurogroup has decided that the next big Greek debt payment on July will be covered, since the remaining reforms will be legislated by then.

The Eurogroup, although it appeared to be the most “friendly” to Greece, it did not have exactly the results the Greek government expected, since there was neither a decision on the debt issue nor was the evaluation formally concluded.

The only issue were there was a complete agreement between the creditors was the obligation for Greece to have primary surpluses of 3,5% of the GDP for the next five years…

The main problem seems to be on the issue of the Greek debt, with Germany and the IMF being still unable to reach an agreement.

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