Bloomberg: 10 major steps in 2018 before exits the bailout era

8 January 2018
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Bloomberg over the weekend points to 10 “crucial items” that the Greek government must complete and implement ahead of the end of the third bailout in August 2018.

Specifically, the international news agency cites the following:

“… a bill to implement all the measures needed to conclude the third bailout review.

In late January, European banking authorities will finalize the scenarios under which the balance sheets of Greek lenders will be stress-tested. The banks have to conclude these audits of their capital adequacy earlier than their EU counterparts.

By early February, Greece intends to issue a new bond, with a maturity most likely of three or seven years, as it strives to regain full market access after years in the wilderness.

During the first 10 days of February, the European Stability Mechanism is expected to disburse the bailout tranche attached to the implementation of the third review’s conditions. The amount of money Greece will get has yet to be agreed on, but it will be at least 5.5 billion euros ($6.6 billion), according to the Greek Finance Ministry.

In February, Greek banks will start sending data to the Bank of Greece and European authorities for the stress tests.

The Greek government expects that in February creditors will start discussing further debt relief measures.

In early March, the fourth bailout review is expected to begin. It isn’t clear yet when creditor representatives will return to Athens, but the review has to start in March if Greece wants to complete another 82 measures on time.

One of the most important gatherings between creditors before the end of the current bailout program will take place in Washington on April 20-22. The IMF’s spring meetings will probably give creditors the opportunity to discuss debt relief and what’s next for Greece.

In early May, the stress test results will be announced. This will show if Greek lenders need more capital and, if so, how serious the problem is for them and for Greece.

By the end of May or June, both the Greek government and creditors want to conclude the fourth bailout review and strike a deal on the conditions for any further debt relief and the post-program life for Greece. “

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