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Greece Rushes to Complete Bailout Program Review by Sunday

tsakalotosGreece’s Finance Minister Euclid Tsakalotos is rushing to complete the bailout program review by Sunday in order to reach an agreement he can present at the April 22 Eurogroup.
The negotiations are ongoing and there are still several issues pending, officials have begun drafting the final agreement all sides hope to arrive at.
According to Tsakalotos there will be two texts to be signed, each containing a package of measures and reforms. One text will be the continuation of the agreement signed with the European Stability Mechanism.
The second text is to be signed with the International Monetary Fund and will include a second package of measures and reforms to be implemented before the second bailout program review.
“There are pending issues that need further technical negotiation and others that need further political negotiation,” the finance minister told the press.
The issues of taxation, security fund reforms, bad loans, the fiscal gap and the privatization fund remain pending. However, according to Tsakalotos, there are only details left.
If there is an agreement, it will be submitted to euro zone finance ministers who are due to meet on April 22. Greece will then be expected to pass the agreed measures through Parliament. Once this is done, euro zone member states must also get parliamentary approval so that the program disbursements can begin, as can the discussion about debt relief between Greece’s lenders.

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