2 Jul 2013
Greece given 3-day deadline to show reform commitment
FXstreet.com (Barcelona) - Troika inspectors, who yesterday returned to Athens for an assessment of the Greek austerity program, gave the country three days to reassures its international lenders that it will fulfill the bailout conditions. Otherwise, it will not receive the next 8.1 billion euro tranche of aid.
The Eurogroup is due to discuss the Greek situation at a meeting scheduled for July 2, so Athens must reassure EU officials that it can deliver on reform commitments by this Friday. The Troika might put additional pressure on the country by dividing the next bailout tranche it into three monthly payments, which would be disbursed only when Athens completes certain goals.
Greek and Troika officials will continue the talks on Tuesday, discussing cuts in health care with the Greek health minister, Adonis Georgidis and minimum wage reductions with labor minister Yiannis Vroutsis.
The Eurogroup is due to discuss the Greek situation at a meeting scheduled for July 2, so Athens must reassure EU officials that it can deliver on reform commitments by this Friday. The Troika might put additional pressure on the country by dividing the next bailout tranche it into three monthly payments, which would be disbursed only when Athens completes certain goals.
Greek and Troika officials will continue the talks on Tuesday, discussing cuts in health care with the Greek health minister, Adonis Georgidis and minimum wage reductions with labor minister Yiannis Vroutsis.