Programme
New rules on sale of NPLs come into play after approval of omnibus bill
The multi-bill approved by Parliament on Sunday evening details, among others, the legal framework for the management and sale of performing or non-performing loans (NPLs).
Multi-bill tabled as Greece aims to take last step to completion of review
The government tabled in Parliament on Wednesday evening the multi-bill including the prior actions required for the conclusion the first programme review.
Eurozone sets out proposals for staggered debt relief for Greece
The Greek government was encouraged by the public references to debt relief following Monday’s Eurogroup in Brussels, although it was made clear that no real steps should be expected before the next gathering of eurozone finance ministers on May 24 and that any interventions would be spread over time.
Outline of fiscal mechanism for automatic cuts emerges after Eurogroup
The outline of the mechanism that will trigger automatic fiscal interventions to ensure Greece’s programme is on track has emerged following Monday’s Eurogroup in Brussels.
Gov't lowers tax-free threshold, prepares for third pillar of measures worth 1 pct of GDP
The bill on pension and income tax reforms voted by all 153 coalition MPs on Sunday evening included a couple of amendments to the initial draft bill tabled in Parliament on April 19.
Negotiations between Greece and lenders: state of play ahead of Eurogroup meeting
The extraordinary Eurogroup on Monday is due to discuss the state of play of the programme review as well as the sustainability of Greece’s debt. The thorniest issue at the moment appears to be the contingency measures worth 2 percent of GDP the IMF is insisting they have to be detailed and legislated before the conclusion of the review.
A breakdown of the 5.4 bln in measures that form basis of agreement between Greece and creditors
Although Greece and its lenders are continuing to debate how to set up an extra 2 percent of GDP in fiscal measures so they are on standby if primary surplus targets are missed next year or in 2018, there appears to be agreement between all sides on the basic package of 3 percent of GDP in spending cuts and tax hikes that will apply immediately.
Compromise emerges on liberalisation of NPL market
Beyond the convergence between Greece and its lenders on the basic package of austerity measures worth 3 percent of GDP, the government and the institutions appear to have clinched an agreement on the sale of non-performing loan (NPLs).
Pension and income tax reform bill sets out 4.4 bln in new measures
The government tabled in Parliament on Friday evening the bill containing the pension and income tax reforms it had put to public consultation a few days earlier.
Gov't unveils bill to overhaul pension system, increase income tax revenues
One of the main interventions that the reform bill introduces is that all main pension funds are consolidated into the new National Security Body with a unified methodology applied for the calculation of social security contributions as of 2017, as well as for granting pensions as of 2016.