Greece will be called upon to implement no less than 43 reforms by next October, when a second review of the Greek program (third bailout) is scheduled, a figure that is 10 times greater than a normal review for other eurozone members applying a similar program.
The ratio was cited by an unnamed European official on Friday, who referred to an “exercise in credibility” for the country.
Until May 24, moreover, the Greek government must implement 18 prior actions, whereas last weekend’s ratified tax and pension bills are still under consideration by the country’s institutional lenders.
The same Community official added that the agreement over the Greek program is still at the European level, although certain differences with the IMF remain.
One such “difference”, which emerged unexpectedly on Friday claims that the IMF is pushing for a 2.5-percent primary budget surplus – as a percentage of GDP – rather than the oft-repeated target of 3.5 percent that European creditors are sticking to.
