Sources suggest that about thirty out of a total of one hundred prior actions outlined in the adjustment program are still pending
ESM
Auditors: “We are currently examining further options for access to documents necessary to carry out our audit work”
The country would have to sustain unfeasible yearly primary surpluses at least until 2060!
Money to be used for the settlement of arrears to private sector
Primary surplus target for 2017 set at 1.8% of GDP
The country’s path during the years of crisis was due to a series of other factors beyond debt sustainability
In exchange for more flexible access to the ESM Schauble wants the fund to have more say over national debt & budgets
Regling satisfied with IMF approval of Greek programme
Greece has no immediate need to tap the bond markets for cash
The timing of its bond market comeback is unknown but it is a crucial step & doing it early could be a mistake