Situation following Eurogroup decision on Greek debt program
The February 20th Eurogroup decision that called for the return of the Quartet mission to Athens, brings a glimpse of hope for a happy end in yet another episode of the prolonged Greek drama.
The Eurogroup statement, highlighting labor market reform and medium term (beyond 2018) fiscal strategy as the main outstanding issues of the current review, comes as no surprise for those following the third Greek adjustment program closely. Both issues are provided for in the Supplemental MOU of June 2016 as well as in all Eurogroup statements since, but the Greek government has been particularly slow to implement them.
Contact BGA to schedule a call with our experts to hear our more detailed views and to keep you updated on the Greek debt program, the Greek government, Eurogroup & IMF proposals as well as their potential implications for financial markets.