The Troika (ECB, EU, IMF, ESM) will return to Athens shortly to work on an additional reform package together with the Greek government. This was announced yesterday by the president of the Eurogroup, Jeroen Dijsselbloem, specifying that "together with the Greek governors, the representatives of the creditors will work on another package of measures, adopting a change in economic policy and with a less emphasis on budgetary austerity and greater focus on profound economic reforms".
Although there is still no “political agreement” on the end of the second review of the program, the return of the institutions signals a "sufficient confidence", necessary "to help the Greek economy", said the president.
Dijsselbloem also explained that times aren't tight: "There isn't a liquidity problem in the short term, but we all feel the urgency (to conclude the second review, ed) as a matter of trust, if we want the eco to return to develop you need trust, for this reason the revision must be concluded as soon as possible ".
According to the head of the ESM, Klaus Regling, Athens may need to fewer resources than the third aid package provides. “Half of the bailout program is behind us. We paid 32 billion. By the end of the plan in 2018 we will pay less than the 86 billion agreed".
Earlier this month, Greece's creditors agreed to ask new economic policy measures in order to reassure the International Monetary Fund on the sustainability of the Greek debt, equal to about 180% of the gross domestic product. The measures – which concern the tax base, the pension system, the labor market – must serve to convince the IMF to return to lending money to the Mediterranean country.
For now, the Tsipras government has refused to adopt them.
