A breakdown of the 5.4 bln in measures that form basis of agreement between Greece and creditors

EconomyProgramme

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.

The European Commission confirmed at the end of last week that the institutions are very close to agreeing with Greece on the 5.4 billion euros in measures, designed to get the country to a primary surplus target of 3.5 percent of GDP in 2018.

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