Brussels Group pressures Greek government over reform proposals

The critical negotiations with the Brussels Group in the Belgian capital appear to be reaching a climax, with the pressure on the Greek government mounting and rumors suggesting that the Greek negotiation team is divided.

European sources reported on Saturday afternoon that once again the Greek side’s list of reform proposals was insufficient and unconvincing. As such, there was little chance of a Eurogroup being called to partly restore funding towards Greece.

The same sources claimed that the Greek side was unprepared and did not present a concise or complete list of reforms,, as previously requested. As such, there are thoughts of the government being given a few more days to prepare its reforms, so that the Eurogroup may convene on the 8^th of April, a day before the Greek government is meant to pay back IMF 448 million euros to the IMF.

Meanwhile, rumors emerging suggest that the Greek negotiation team is divided, with Elena Panariti and Giorgos Houliarakis said to express differing opinions.

Mrs. Panariti has so far expressed the government’s main policy on the reforms, namely that they must not include any recessionary measures or new cuts in wages of pensions, instead focusing on combating tax evasion. Mr. Houliarakis on the other hand appears to be somewhat frustrated by the list is favored by the creditors.

The Greek government has so far managed to keep its list of reform proposals confidential. The latest confirmed information reveals that the Greek economy’s fiscal perspectives are a major point of argument between both sides. The creditors believe that there will be a 1% primary deficit this year, while the Greek side claims that it can achieve a 1% primary surplus. In order to cover this 2% difference, which is about 3.5 billion euros, the European side will demand further measures, which the government resists.

With the government being pressured into carrying out controversial privatizations, the Monday evening appearance of Prime Minister Alexis Tsipras in Parliament today is expected to be interesting.