On Monday’s Eurogroup meeting, Greek officials anticipate a political solution as to three main axes, i.e. reforms, primary surpluses and medium-term debt relief measures.
There is currently a strong feeling that the common ground for the review conclusion has been found. German Finance Minister Wolfgang Schäuble denied having made any threats of Grexit and stressed that Greece is on the right path. “Greece will not face any problems if it implements the reforms”, said the German official, adding that he expects the International Monetary Fund to participate in the economic program for Greece.
On his part, European Stability Mechanism (ESM) Managing Director Klaus Regling anticipates IMF’s participation in Greece’s program and reckons that, despite the ongoing crisis in the country, Greece will need considerably less money from the third financial assistance program of the ESM compared to the amount originally estimated.