Friday’s Eurogroup agreement has increased the pressure on the government to make savings and increase its revenues.
The Eurogroup initially approved the extension of Greece's current Master Financial Assistance Facility Agreement (MFAFA) for up to four months (end of June), which is two months short of what Athens requested on Thursday.
The Greek Finance Ministry leaked today all the key documents that were presented to Greece’s Eurozone partners during the last two Eurogroup meetings on February 11 and 16.
Eurozone finance ministers are due to meet again on Monday to discuss a possible compromise between Greece and its lenders but these talks continue against a backdrop of pressing funding needs for Athens.
The government has a series of important milestones το confront on the liquidity front, although Deputy Prime Minister Yiannis Dragasakis has insisted that there is no cause for concern at the moment.
The first signs of the new Greek government intentions on the economic front were already indicated right after its formation.
As expected, most of troika institutions and top officials from individual countries’ governments commented on the outcome of Greek elections congratulating the wining party and wishing success to their work.
The new Greek government has several thorny economic issues to address in its first days in office.
Regardless of the outcome of general elections, the new Greek government will have a number of pressing issues to resolve in the coming weeks.
As expected, ECB President Mario Draghi announced today a Quantitative Easing (QE) programme which involves an expanded asset purchase programme up to 1.1 trillion euros. Starting from March, the programme is intended to be carried out until the end of September 2016.