The Greek government will reach a deal with a delegation of international inspectors by an Oct. 18 European summit, while a final deal is expected to be reached by a euro-zone finance ministers’ meeting scheduled for the end of October, paving the way for the long-awaited tranche to be disbursed in early November, the country’s finance minister told a Greek newspaper Saturday.
“We have to conclude on the [austerity package]–on which we will have an agreement with [international inspectors] by the Oct. 18 summit,” Yannis Stournaras told the Real News weekly newspaper. “I estimate that there will be a final agreement by the Eurogroup, which is going to take place at the end of October.”
Greece has been locked in negotiations with a delegation of inspectors from the European Commission, the International Monetary Fund and the European Central Bank–known as the troika–since early September over a two-year, 13.5 billion euro ($17.6 billion) austerity plan. The troika disputes some elements of the austerity plan and wants Greece to make more spending cuts next year than the Greek government has planned.
An agreement on those measures, as well as other structural reforms, is a precondition for Greece to receive the next tranche of aid promised to it by its European and international creditors under the terms of its latest EUR173 billion bailout and to secure a possible two-year extension to deficit-reduction targets set in that rescue agreement.
“After [the Eurogroup], the tranche will be disbursed,” Mr. Stournaras told Real News.
In the meantime, talks between Greece and a visiting troika of international inspectors continued Saturday, while talks will resume Sunday.
(source: Real News, dowjones)
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