February 20 is the latest date now being cited as the deadline for concluding the now delayed second review of the Greek program (third bailout), with a Eurozone official on Wednesday adding that the possible return of creditors’ representatives to Athens will be discussed at Thursday’s Eurogroup meeting.
The same official appeared guardedly optimistic over the prospect of the review closing by Feb. 20.
Any delay past late February “bumps” the issue into the campaign seasons in the Netherlands, France and Germany, where candidates will probably focus on their respective national elections instead of the apparently never-ending Greek economic saga.
Moreover, the same official repeated very high-profile statements by European leaders over the recent period, namely, that the IMF’s continued participation in the Greek program is absolutely essential. Any departure will mean further delays, the official said.
The standing obstacle, which is now well-defined, is creditors’ demand for immediate legislation by Athens to specify measures that will guarantee annual primary budget surplus goals (3.5 percent of percentage of GDP) after 2019.
Negotiations are continuing over the thorny difference, while other pending issues, such as labor sector and energy market liberalization, remain unresolved.
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