Resumption of talks on second review difficult, Brussels sources says

Trust lost between Greece and its creditors

Hopes of a rapid resumption of talks between the Greek government and its creditors on the completion of the second review of the Greek bailout program are fading, a European Commission source said. The Greek government’s failed handling of negotiations in December of 2016 raise serious concerns about a smooth process of talks for the second review, the source added.

In order for the heads of the institutions to return to Athens and engage in a new series of talks an agreement at the January 12 EuroWorking Group meeting is necessary. The same source believes the prospect of Greece’s creditors coming to Athens and restarting talks in the immediate future is highly unlikely, as the possibility of reaching a deal on January 12 is quite remote.

He continued by stressing that according to the current plan, there were no provisions made for the program moving forward without the involvement of IMF, a process that would require time and effort on behalf of all the parties involved. He also pointed out that the Greek government’s stance in December rattled the trust built between the country and its lenders, setting back the whole process.