A Community source in Brussels on Friday afternoon stated there was still no agreement between Athens and its institutional lenders over an automatic spending cut mechanism to ensure that Greece meets fiscal targets through 2018.
The more-or-less radical measure has been dubbed the “cutter” by Greek media and opposition critics.
The official, quoted by Greece’s state news agency, added that an agreement over the “contingency” mechanism is expected to be completed over the weekend, allowing for a draft bill to be submitted to Parliament next week.
The leftist Greek government is now trying to quickly revolve any remaining open issues in order to achieve a now painfully delayed first review of the Greek program at the May 24 Eurogroup.
The same source claimed that creditors want “clarifications” by Greek authorities over the “credibility” of the mechanism.
