Programme
Progress in bailout talks but foreclosures and NPL management stand in way of agreement
After lengthy discussions over the weekend, the key issues remaining unresolved in the negotiations of Greek authorities with the quadriga mission chiefs are foreclosures and management of bad loans (NPLs).
Government in race against time to resolve bailout issues
Following the Eurogroup decision on Monday to decouple the disbursement of the 10 billion for bank recapitalisation from the implementation of the second list of prior actions or the completion of the first programme review, the government aims to close current pending issues by early next week.
Eurogroup gives Greece another week to agree measures, keeps tranche and recap funds on hold
As expected, the Eurogroup held on Monday took stock of the current state of play regarding the implementation of the Greek programme but it did not reach any decision on the disbursement of the next sub-tranche of 2 billion euros.
Greece passes latest omnibus bill, looks to next actions ahead
The omnibus bill with the second set of prior actions required for the disbursement of the next sub-tranche of 2 billion euros was voted through the Greek Parliament on Thursday evening.
Coalition in rush to wrap up pending bailout issues
Ahead of Monday’s Eurogroup, the Greek government seems willing to accelerate its efforts to close some key pending issues that could unlock the disbursement of the next sub-tranche of 2 billion.
Greece and lenders far apart on foreclosures as housing NPLs keep rising
The protection of primary homes from foreclosures emerged as one of the key areas of significant difference between the Greek government and the institutions during the 3-day visit of the quadriga mission chiefs to Athens last week.
First visit by quadriga to Athens leaves series of issues unresolved
The first visit of the quadriga mission chiefs to Athens after the signing of the third bailout programme in mid-August lasted three days from October 21 to 23 and came to an inconclusive end.
Omnibus bill goes to Parliament as Greece seeks to unlock 2 bln sub-tranche
The Finance Ministry published for public consultation on Saturday evening the omnibus bill including the prior actions needed for the disbursement of the next sub-tranche of 2 billion.
Lenders set out 49 milestones for Greece to meet before next bailout tranche
The Eurogroup Working Group (EWG) decided on Friday a long list of 49 milestones that Greece will have to achieve by mid-October for the disbursement of the next bailout sub-tranche of 2 billion euros.
Lenders also require health and labour market reforms from gov't in next months
While the attention regarding the key deliverables outlined in the third memorandum of understanding (MoU) has fallen on the areas of fiscal policy, pension reform, energy market and privatisation, there are a series of measures that have to be implemented that relate to health care and the labour market.