Technical talks between Greece and lenders regarding reforms have started in Brussels on Wednesday. The team of representatives that will be coming to Athens to review the progress on the measures required for Greece’s bailout program will be called the “Brussels Group,” the Greek government has announced.
The European Central Bank, the International Monetary Fund, the European Commission, the European Stability Mechanism and the European Financial Stabilisation Mechanism are participating in the talks. The Greek team is headed by Secretary General of Finance Nikos Theocharakis.
The “Brussels Group” is a term decided by the Greek government in order to end references to the “troika” of lenders that was used in the past and was a term hated by Greek society. The technocrats are expected in Athens on Thursday for talks with government officials. This time there will be a different set of experts representing creditors met with Greek officials.
The Brussels Group arriving in the Greek capital are expected to visit the State General Accounting Office and that will be the base of talks. It has been agreed that the visits will take place in three weekly waves, focusing on different aspects of the economy each time. In the first week, visiting experts will examine fiscal issues. This will be followed by structural reforms in the second week and banking matters in the third.
Deputy Finance Minister Dimitris Mardas said that meetings will be taking place at the State General Accounting Office where the Brussels Group will be talking with representatives of several ministries instead of visiting individual ministries.
The discussions in Brussels and Athens are taking place so that there will be a technical agreement by Easter so the government can then table a multi-bill of reforms to Parliament for approval.
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