from Macro and Markets

Eurogroup statement on Greece

June 22, 2015

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Budget, Debt, and Deficits

Greece

Here it is (via the Guardian):

"The Eurogroup broadly welcomed a new version of the reform plan submitted by the Greek authorities this morning, before the Eurogroup meeting, and considered it to be a positive step in the process. The Eurogroup asked the institutions (the European Commission, the European Central Bank and the International Monetary Fund) to start analysing the new proposal and together with the Greek authorities work out a list of prior actions with a view to reaching a final agreement on the reform plan later this week.

The Eurogroup might hold another meeting this week. "

It is hard to be optimistic about this: the emphasis on “prior actions” highlights the lack of trust between the sides and means that Greek “red lines” will need to be crossed before it receives cash. That is a high hurdle.

More on:

Europe

Budget, Debt, and Deficits

Greece

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