Despite the optimism exuded by the coalition government over the development of the bailout program, the troika is beginning to worry about the rate of implementation of reforms.
The troika teams in Athens report a 50% to 60% rate of government compliance to the agreed upon reform program, compared to an 80% rate that was documented in the first half of 2013. While not set in stone, Greece is expected to achieve at least 75% of prerequisite reforms in order to collect the next loan installment.
The Brussels bureau chief of the Financial Times Peter Spiegel reported to the CNBC television network that the troika officers were disappointed at the slow rate of reform implementation in Greece.
With the troika expected in Athens on Monday, the IMF, ECB and EU representatives are expected to pressure the Greek side to implement the OECD proposals (such as with fresh milk, non-prescription meditation etc) and demand explanations as to why they are being delayed.
