GREECE BAILOUT CONSULTATIONS STAGGER NEAR HITTING JACKPOT

GREECE BAILOUT CONSULTATIONS STAGGER NEAR HITTING JACKPOT

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Greek Finance Minister Euclid Tsakalotos. right, speaks with Managing Director of the International Monetary Fund Christine Lagarde during a round table meeting of eurogroup finance ministers at the EU Lex building in Brussels on Sunday, July 12, 2015. Greece has another chance Sunday to convince skeptical European creditors that it can be trusted to enact wide-ranging economic reforms which would safeguard its future in the common euro currency. (AP Photo/Michel Euler)

GREECE BAILOUT CONSULTATIONS STAGGER NEAR HITTING JACKPOT

– Eurozone Finance Ministers Make Headway on Resolving Greece Financial Crisis

– Mixed Reactions: They Are Stuck Between Own Plans and IMF’s Scepticims

GREECE BAILOUT CONSULTATIONS STAGGER NEAR HITTING JACKPOT

GREECE BAILOUT CONSULTATIONS NEAR TO HITTING JACKPOT
Greek Finance Minister, Yanis Varoufakis Shakes Hands with IMF Chair, Christine Lagarde

Finance Ministers of the European community have declared progress in deliberations about the bailout programme for Greece.

Meanwhile, they have put a call through for more efforts to be put in place. They said after a meeting in Amsterdam on Friday that supplementary work was still required.

They said they are optimistic that a pact can extended in the next few days and they are ready to summon a remarkable meeting.

It is anticipated that the move would pave the way for the next payment under the bailout.

According to BBC, a review of the Greek government’s policies has been delayed once again by months; likewise the next payment of financial assistance.

It was gathered that the review, being the first under a new bailout of over €80bn, initially ought to have been concluded last year.

However, considering the status quo based on the meeting of the Eurozone finance ministers, things are seemingly positive.

Despite the progress recorded, the ministers intend to witness more in a number of areas, including privatization and the strategy for the government finances.

GREECE BAILOUT CONSULTATIONS NEAR TO HITTING JACKPOT
Christine Lagarde, IMF Boss

Meanwhile, outcomes are indicating a conflict of positions between the ministers and the European Commission on one side and the International Monetary Fund (IMF) on the other.

For the IMF, skepticism are arising on whether the measures under discussion are adequate to reaching the targets for realizing reduction in the government’s finances a surplus in the public accounts before interest payments on its debts equivalent to 3.5% of national income, GDP.

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The IMF is as well not certain about the feasibility of achieving the intended goal at all over a long period.

Nevertheless, it is of concern the single means by which the group of ministers is trying to bridge the gap with IMF.

This is all about reaching a consensus on how Greece would automatically survive if situations arise against the end of the tunnel.

“If all were to go to plan, they wouldn’t be needed, but they would be available as a backstop if needed.” BBC opines.

GREECE BAILOUT CONSULTATIONS STAGGER NEAR HITTING JACKPOT