Critical meeting for bailout review negotiations likely on Wednesday

4 May 2016
769 Views

The Eurogroup meeting for Wednesday 9 May is expected to be a critical point in the negotiations for the Greek bailout review, in light of the revised European forecasts for the economy that were published on Tuesday.

As such, a meeting between Eurogroup chief Jeroen Dijsselbloem, European Commission President Jean-Claude Juncker, IMF General Director Christine Lagarde along with the Finance Ministers of Greece Euclid Tsakalotos, Germany Wolfgang Schauble and France Michel Sapin may come before the Eurogroup meeting.

The main problem in the negotiations is the package of contingency measures demanded by the International Monetary Fund, should Greece fail to achieve its target for a primary surplus of 3.5% of the GDP in 2018.

Greek government sources have underlined that all sides are aware that it will be impossible for such a package of contingency measures to pass through Greek parliament and note that the talks at the Eurogroup on the debt will be linked to the automatic adjustment mechanism, which the Greek side has counter-proposed.

You may be interested

Odysseus’s Ithaca – Five beautiful beaches you must visit
GREECE
shares25 views
GREECE
shares25 views

Odysseus’s Ithaca – Five beautiful beaches you must visit

Panos - Jul 27, 2021

Ithaca is one of those hidden gems that Greece has to offer the inquiring traveller. The island, known as the…

Turkish businessman pays €76,000 fine in Mykonos for Covid-19 violation on yacht (video)
FINANCE
shares41 views
FINANCE
shares41 views

Turkish businessman pays €76,000 fine in Mykonos for Covid-19 violation on yacht (video)

Panos - Jul 27, 2021

A Turkish yacht owner paid a total of €76,000 for violating Covid-19 regulations in Mykonos. The businessman was fined for…

Weather Greece: 10-day heatwave coming
GREECE
shares22 views
GREECE
shares22 views

Weather Greece: 10-day heatwave coming

Panos - Jul 27, 2021

A 10-day heatwave starts in western Greece today with temperatures that will reach and exceed 40 degrees Celsius. Meteorologists warn…

Leave a Comment

Your email address will not be published.