Greeces’ lenders to start bailout review today

By FXStreet FXStreet (Mumbai) – Negotiations with respect to review Greece’s bailout, which are due to begin today. The officials from the European Commission, European Central Bank, European Stability Mechanism and International Monetary Fund will likley hold talks with officials of the Greek government for about a week beginning today. only when the coalition manages to complete the review will they leave Athens. Greece’s Finance Minister Euclid Tsakalotos believes the review will be completed by the end of March or end of April.

While speaking at Davos on 22nd January 2016 ECB chief Draghi had expressed confidence that Greece has been able to make progress with respect to reforms, and fiscal consolidation. He however did mention his concerns about the high-level of non-performing loans in Greek banks and said they needed “a process by which these loans can be sold.” He is hopeful of an agreement soon. “The sooner it’s concluded, the sooner the Greek economy can go back to normal” Draghi noted.

Several issues on the agenda such as pension reform, fiscal measures, the new privatization fund and the sale of nonperforming loans are highly sensitive. In the past few months the lenders have had the opportunity to study and assess Greece government’s …read more

Source:: FX Street