The Greek government remained in discussions with the institutions on Thursday over the details of the primary residence framework amid concerns that Athens is set to act unilaterally and table the draft legislation without having found any common ground with the lenders.
The Greek government appears set to table in Parliament on Friday the draft law for the new framework governing the protection of primary residences from foreclosure without necessarily first reaching an agreement with the institutions.
Discussions between the Greek government and its European lenders are continuing with the aim of the outstanding actions from the second post-programme review being completed by March 25, when the Euro Working Group (EWG) is due to meet.
The International Monetary Fund (IMF) issued on Tuesday its first post-programme report for Greece as part of the regular monitoring cycle of assessing policies and the country’s capacity to repay the Fund.
As seemed likely following the European Commission’s second enhanced surveillance report last month, Monday’s Eurogroup did not lead to the activation of the latest round of debt relief measures for Greece.
The chances of Greece securing the eurozone’s approval for almost 1 billion euros in debt relief measures at Monday’s Eurogroup appear slim as Athens and the institutions had not settled on the details of the legislation for primary residences by Friday.
The government is looking to the Bank of Greece to provide its assessment of the latest version of the draft law for the protection of primary residences from foreclosure so the bill can be tabled in Parliament and voted on this week, ahead of Monday’s Eurogroup.
Following further discussions between the Greek government and the institutions over the weekend, Athens is hoping to submit to Parliament in the coming days the draft legislation protecting primary residences from foreclosure.
Among the areas of concern highlighted in the European Commission’s second post-programme surveillance report are the household insolvency law and debtor protection schemes, which are examined in the context of the overall financial system stability and the ongoing efforts to reduce the stock of Non-Performing Exposures (NPEs) from the systemic banks.
The European Commission issued on Wednesday the second review in the content of enhanced post programme surveillance of Greece.