Brussels, 30/09/2014 (Agence Europe) - This Tuesday, 30 September, representatives of the European Commission, the ECB and the IMF will start the final monitoring mission of the implementation of the Greek eurozone programme, which will be no walk in the park, given the number of controversial issues to be dealt with.
Due to the timing of the IMF annual general meeting, the institutional trio will initially visit the Greek capital for a week and a half and return around the end of October. During this first visit, talks are expected to focus on preparations for the draft budget 2015 and the state of play with the implementation of structural reforms. Under the government's plans, the draft budget is expected to contain certain tax cuts, particularly on companies and self-employed individuals. The troika is standing firm, the budgetary objectives are non-negotiable and will not be changed, so as to avoid appearing to endorse any suggestion of Greece slipping back into its old habits as its bailout plan comes to an end.
At the end of October, when the institutional trio returns to Athens, it should have clearer ideas about any needs the banks may have and, by the same token, on the country's subsequent financing, as €11 billion have been set aside for the financial sector. As to Greece's idea of leaving the IMF programme a year ahead of time, thereby doing without more than €10 billion in loans from the Washington-based institution, this has been met with little enthusiasm by the troika. “The economic situation is improving (…), but access to financial markets remains fragile”, an EU source stated. (EL)