Greek Prime Minister Alexis Tsipras upon his arrival from the U.S. has to oversee the implementation of the measures required by the bailout program.
A European Union official said that Friday’s Euro Working Group will finalize the list of about 50 measures that need to be implemented within 40 days. Some of the required measures had to be completed by September 15 while others have an October 15 deadline.
The Greek government needs to implement the first package of required reforms so that the first review is completed by the end of November.
According to a Deutsche Welle report based on an International Monetary Fund document that German magazine Spiegel has, the Greek government has not followed the timeline of reforms and there is risk that the next loan installment disbursement would be blocked.
According to Spiegel, the Greek government has voted for a number of reforms required by the bailout program, but has implemented very few of them.
The Greek government wants to complete implementing the requirements of the bailout program quickly in order to: a) have the lenders sit down on the negotiating table to deliberate again on easing the state debt and b) recapitalize Greek banks.
According to a government source, the priorities Tsipras has set are battling tax evasion and undeclared work, along with a restructuring of the public sector, possibly eluding to tackling the corruption that is still abundant in the Greek public sector.
However, there are “thorny” issues that are pending, such as red loans, labor laws and the Public Assets Development Fund. Also, the Greek government want to maintain the Independent Power Transmission Operator (ADMIE) under the state wing and find equivalents for the 23 percent value added tax implementation on public education.
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