Bailout talks resume with key issues pending and contingency measures emerging

Photo via Flickr
Photo via Flickr

The International Monetary Fund spring meetings and the discussions of Greek authorities with eurozone and IMF top officials on the sidelines did not yield any meaningful results apart from a proposal apparently made by the institutions for contingent measures of up to 2 percent of GDP (3.6 billion euros) to bridge the difference between the IMF and the eurozone partners on the fiscal gap to 2018.

The European Commission along with the Greek government see a fiscal gap of 3 percent to achieve a primary surplus target of 3.5 percent of GDP in 2018. Starting from a lower fiscal base and with a different approach on what the proposed measures might ...

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