Tag Archives: reforms

Greece anticipated to push by means of remaining reforms on Tue-euro zone

BRUSSELS Greece has accomplished far more than half of the reforms agreed with euro zone creditors to get the subsequent, 1 billion-euro tranche of bailout loans and is to legislate the remaining methods on Tuesday, a senior euro zone official mentioned on Sunday.

Euro zone creditors have produced the payout of the next tranche of loans to Athens conditional on Greece adopting a set of 13 reforms and progress was discussed at a meeting of euro zone deputy finance ministers on Friday.

The reforms contain privatization as nicely as tax and structural measures, financial-sector and bad-loan reforms and changes to public administration.

“Seven out of the 13 are completed now,” said the official, who is familiar with the discussions of the deputy ministers on Friday but who spoke on situation of anonymity.

“All the rest and every thing else related is due to be adopted in the Greek parliament on Tuesday night. A compliance report by the institutions representing the creditors is to stick to on Wednesday,” the official mentioned.

After the report, euro zone deputy finance ministers, who also type the board of the euro zone bailout fund, are to hold a teleconferences at the end of the week to give a green light for the disbursement of the tranche, the official stated.

(Reporting By Jan Strupczewski Editing by Jonathan Oatis)

Greece can tap markets in 2016 if reforms on track -EU aide

ATHENS Greece, which received a third international bailout this year, can begin to return to bond markets in 2016 if its reform program stays on course, a senior EU finance official was quoted on Saturday as saying.

The government is dependent on the euro zone’s rescue fund for most of its borrowing despite the fact that it continues to issue a limited amount of brief-term treasury bills.

“If the system is on track, as it is right now, and stays that way all of 2016, then I reckon access to markets is a feasible target and will be a logical consequence,” Thomas Wieser, chairman of the Eurogroup Operating Group, told Greek newspaper Realnews.

The government has begun to implement a difficult reform plan following a bailout of up to 86 billion euros ($ 93.61 billion) agreed in August but nonetheless faces politically sensitive overhauls of the pension and tax system and state administration.

Finance Minister Euclid Tsakalotos told Reuters in an interview this week he saw a 50-50 likelihood of tapping capital markets prior to the end of subsequent year.

(Reporting by Lefteris Karagiannopoulos Editing by Paul Taylor)