By Nikos Bellos
An acceleration of talks and a return of institutional creditors’ representatives to Greece this week in order to finally complete the first evaluation of the “Greek program” by Catholic Easter (March 27) is most favorable scenario put forth by Eurozone officials and member-states.
The date coincides with the target set by EU Commissioner Pierre Moscovici during a Eurogroup meeting on Feb. 11, although creditors and other EZ member-states appeared at the time to link the completion with the rate of progress posted by the leftist Greek government in meeting agreed to reforms.
Nevertheless, the continuing refugee / irregular migrant crisis, in tandem with the hardening stance of a handful of SE European central European states, has apparently convinced most EZ officials that Greece cannot deal with two crises simultaneously.
Achieving the first evaluation by March 27 means stepped up meetings, given that open issues remain and that legislative preparation – along with actually passing the reforms through Parliament – will take time.
Sources in Brussels, meanwhile, referred to a greater “flexibility” vis-à-vis Athens in light of the repercussions from the migrant crisis – i.e. less pressure on the fiscal front, but with an emphasis on reforms in Greece’s creaky social security system.
Conversely, the IMF remains the “strictest” creditor in terms of dealing with Athens and is viewed as the “culprit” in the latest delay in the return of representatives to Greece. The organization remains steadfast in its demand for more fiscal measures by the SYRIZA-led government but also wants a substantive reduction of the country’s debt, to manageable levels.
