Euro Group Meeting And Agreement To Fund Greece
As it has been going through all the year, the Euro group meeting will entirely be focused and dedicated to Greece only. Indeed, the Greek government expects to adopt all the remaining measures needed to get hold of €2 billion second sub-tranche of the bailout programme.
The euro group in any case will discuss the next steps for the Greek programme. Concerning last, with heaps of desires, the ECB put Greek bank shortfalls at €4.4 billion in its baseline scenario €14.4bn in the adverse scenario as reported by Econo Times.
French Finance Minister, Michael Sapin says, France wants euro zone finance minister to reach an agreement on non-performing loans at Greek banks, according to Reuters.
Senior officials from currency union's finance ministries were updated on Greece's implementation of around 50 promised overhauls, known as Milestones, during a conference call on Sunday afternoon.
While progress has been made on several issues including measures to substitute a tax on private education. The governance country's bailed out banks and treatment of overdue loans, Athens and its creditors will require more time to sign off on all overhauls, the officials claimed. Greece needs money to pay salaries and bills and to settle domestic issues.
There will be "no agreement on €2 billion", one of the official claims.
On the other hand the officials claim, they now want Greece and its leaser foundations, which speak to 18 other euro zone governments too and the global money related asset to achieve an arrangement on upgrades by Wednesday, as reported by Market Watch.
Senior officials from the national finance ministries will reconvene Friday to assess the latest attempts, two officials said.
The Euro Group will also discuss post programme Surveillance for Spain and the banking union. In simple words, the finance ministers will likely discuss the Commissions' plan to propose a European Deposit Insurance Scheme at the December EU Summit. The recently released EU Commission forecasts and their implementation for 2016 budgets are also likely to be debated.