Greek ministers and representatives of the institutions held a teleconference on Monday to discuss the state of play in the fourth review as all sides attempt to clear the decks so a comprehensive agreement, including debt relief, can be reached at Thursday’s Eurogroup.
The government will be looking to demonstrate a significant reduction in its list of 88 prior actions by the June 21 Eurogroup, including covering ground on several major privatisations.
Expectations for the debt relief package that may be agreed at next week’s Eurogroup are being kept low and the interventions that are due to be announced look set to fall below the bar set by the Greek government.
Just one week is left until the June 21 Eurogroup and speculation is mounting about what kind of debt relief package Greece can expect when eurozone finance ministers meet in Brussels.
International Monetary Fund managing director Christine Lagarde has vowed that her organisation will remain engaged in Greece after the end of the third programme, although it is looking almost certain that this will be in a technical capacity.
The government tabled in Parliament on Friday evening the Medium-Term Fiscal Strategy (MTFS) for 2019 - 2022 as part of the multi-bill containing the measures needed for the conclusion of the fourth and final programme review.
The multi-bill containing the legislation that aims to wrap up the remaining prior actions is due to be submitted to Parliament on Friday along with the 2019-2022 Medium-Term Fiscal Strategy (MTFS) as Greece moves a step closer to completing the fourth review.
Following an unsuccessful attempt to reach a compromise on Greece’s debt relief package over the weekend, the country’s lenders are due to make another effort to find common ground on Thursday.
A meeting of Greece’s key lenders on Saturday failed to result in an agreement on the debt relief package that is due to be tabled at the June 21 Eurogroup, leaving diminishing chances of the International Monetary Fund being involved in anything more than a technical capacity in the future.
The Greek government will be watching with some concern when its key lenders gather in Canada over the weekend to discuss debt relief.