Greece and the institutions are close to a conclusion of the Greek review, European Commission Vice President for the Euro Valdis Dombrovskis said during a press conference on Tuesday. The Commissioner had been asked whether a staff level agreement could be concluded before the Orthodox Easter on May 1.
“During the last weeks we have been making substantial progress with the Greek authorities. It is the Commission’s assessment that we can be close to a concluding of the first review,” Dombrovskis said in his reply, noting that this could be done “in a very short time” if all the sides were ready to a “final push.”
According to Dombrovskis, the Commission was not putting any deadline on when the first review needs to be completed, noting that this was originally meant to happen last autumn.
“Clearly we are running delays but what matters is implementation of the commitments in the Memorandum of Understanding and that is the Commission’s benchmark for completing and reaching a staff level agreement,” he said.
The Commissioner noted that good progress had been made in Washington and there was now an agreement in principle on using the Commission’s figures as a baseline scenario, which the missions in Athens needed to explore further. He said they would also look at possible contingency measures “in case the more pessimistic IMF scenario were to materialize,” adding that this was just a broad outline of the ideas that needs to be developed.
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