Thomas Wieser: The political desire for another greek program is zero.The Greek economy will remain under close supervision for years after the completion of the third bailout deal, the president of the Euro Working Group (EWG), Thomas Wieser told insider.gr in an interview published on Wednesday.<\/p>\n
Even though he is confident the cash-strapped country will be able to recover, Wieser says that a lot of work needs to be done first, starting with the timely completion of the third bailout review. He also suggests that additional measures may be needed in 2019 and 2020 depending on the course of the budget next year.<\/p>\n
Wieser adds that Greece\u2019s ability to tap international lending markets by the end of the program in August 2018 will be a \u201cdecisive factor for the Greek government to push ahead with reforms.\u201d \u201c<\/p>\n
In other words, knowing that the program is ending in a few months is a huge incentive to get the reforms done,\u201d he says, adding that a successful completion of the program is within reach given the government\u2019s limited fiscal obligations. Wieser appears confident that Greece will successfully wrap up the upcoming review in the fall even though the government needs to push through 95 so-called prior actions, saying the majority has already been legislated. However, he adds, Greece may need additional measures after August 2018 depending on whose scenario plays out: the International Monetary Fund\u2019s pessimistic outlook, or the upbeat projects of the European institutions and the Greek government.<\/p>\n
Greece will also remain under supervision \u2013 as have Spain, Ireland, Portugal and Cyprus \u2013 until 75 percent of its debts are paid off, and this will be much stricter \u201cin the first few years at least, than, say, it was for Ireland,\u201d Wieser adds.<\/p>\n
Regarding debt relief, Wieser tells insider.gr that \u201can analysis will be conducted in the summer of 2018 and a decision taken upon the completion of the program<\/p>\n