Greece: state of play
The institutions and the Greek Minister for Finance, Euclid Tsakalotos, briefed the Eurogroup on the next steps in implementing Greece’s economic adjustment programme.
The institutions intend to start the first review of the programme implementation next week. The review is expected to focus on the following key issues:
pension reform
the 2016 budget
medium-term fiscal strategy
modernisation of Greece’s public administration
financial sector reforms
reforms in the electricity sector
Ministers called on the Greek authorities to cooperate constructively with the institutions to ensure a smooth and thorough first review. Successful completion of this exercise would pave the way for decisions on possible debt relief measures and an IMF programme, as agreed by the heads of state or government in July 2015.
Cyprus: state of play
The Eurogroup discussed the 8th and final review of Cyprus’ adjustment programme. The institutions pointed out that Cyprus had made significant progress in implementing the programme.
Cyprus is now expected to fulfil two outstanding conditions, the so-called ‘prior actions’, which have to be implemented to formally finalise the review. The finalisation of the review will pave the way for the final ESM disbursement of about €300 million.
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