The negotiations between the Greek government and its international creditors may be carried out step-by-step, some distance still existing, however top economic players in Greece underline that the information circulated regarding the efforts for reaching an agreement is mostly true. “The door still remains half open” one of the sources told To Vima.
While the Greek reform proposal that is being prepared will not be designed with the full cooperation of the institutions, the same sources comment that there is a sense that both sides are mostly in agreement. Nevertheless, there are some concerns that that Athens may be tempted to carry out some changes, which could cause problems with Brussels.
Should the Greek government however present its plan without significant changes and deviations, the pressure will be on the European side. Greece’s reform plan will be accompanied by a loan request, for about 50 billion euros – this is considerably more than the initial 29 billion euros request, as it will be accompanied by a debt sustainability analysis. This analysis will be conducted in association with the IMF.
The Greek government’s final proposal will be submitted to the institutions for consideration either on Thursday evening or Friday morning, with a Eurogroup scheduled to follow. No firm date has been announced for the Eurogroup. As the political leaders are seemingly unwilling to assume the responsibility of a decision, the Finance Ministers will have a major say. So while it appears that efforts are being made to reach an agreement between both sides, Finance Minister’s such as Wolfgang Schäuble may adopt a harder line.
