By N. Bellos
[email protected]
Eurozone members’ representatives at Thursday’s Euro Working Group (ΕWG) provided a tentative approval to the Tsipras government’s request to suspend pre-legislated social security cuts, which are set for implementation on Jan. 1, 2019.
Essentially, the EWG considers that Greece will achieve a post-bailout obligation of posting a primary budget surplus of 3.5 percent, of GDP, in 2019.
A position recommendation had previously been submitted by the EU Commission, whereas no EZ member-state objected, according to reports.
An official decision will have to wait for next week, with Eurozone finance ministers to meet in Brussels on Monday, and with the Commission to unveil its recommendations on member-states’ draft budgets on Wednesday.
The issue of countervailing measures, which were linked to the social security spending cuts, will also reportedly be clarified next week.
