The Eurozone has given the Greek government a tough timetable to complete the fourth and final bailout review ahead of the completion of the entire program, which is due in August. The agreement on the post-bailout framework and the measures to ease its debt were also discussed during Monday’s Eurogroup meeting, thus paving the way for the disbursement of the first sub-tranche of the third review, amounting to €5.7bn.
Using different forecasts to Brussels, the IMF will fight hard against the implementation of the so-called countermeasures, on which the government is counting to soften the political blow from the new measures. The IMF has for some time called for further debt relief.
International developments will also play a role, as they may well affect Greece’s full return to the markets, along with the banks’ stress tests.