By E. Sakellari
[email protected]
Representatives of Greece’s European creditors and the IMF — the “quartet” — are expected to receive the entire draft text of a proposed new legal framework to protect primary residences in the country from creditors, mainly commercial banks holding mortgages, on Monday or by Tuesday, at the latest.
European creditors have so far complained of a lack of details over the proposed framework, which has emerged as the most significant issue and challenge in the “enhanced supervision” regime that Greece found itself after third bailout ended in August 2018.
Creditors and top Greek ministers held a teleconference on Friday over the specific legislative initiative, with few details emerging.
Nevertheless, domestic banking executives – without going on the record – point to the possibility of less than favorable conclusions in a EU Commission report on the Greek economy, which is set to be released on Wednesday, with some sources citing the prospect of even a “reprimand”.
The next date on the Tsipras government’s political “agenda” is a March 11 Eurogroup meeting, with a 640-million-euro tranche at stake for Athens.
The money is part of a debt relief package agreed to by European creditors in 2017, namely, profits generated from Greek state bonds held by the ECB and Eurozone member-states’ central banks as collateral.
The current protection framework expires at the end of this month.
