The agreement reached between Greece’s government and its lenders was the focus of an article published in the Economist saying that Greece, the International Momentary Fund and EU agreed to give the green light for the disbursement of 10.3 billion euros tranche and argue later.

The article mentions that despite the fact that there was “plenty of shouting”, the Greek government “pushed through a €1.8 billion package of tax increases” referring also to Panos Kammenos statements on tax hike on islands.

” Afterwards Panos Kammenos, defence minister and leader of the right-wing Independent Greeks, Syriza’s coalition partner, blasted the rise in value-added taxes on small Aegean islands—which he had just voted for—as ‘criminal’, ” Economist writes.

“The tax increases completed a package of reforms that Greece agreed to after six months of negotiations with its creditors, the European Union and the International Monetary Fund,” says the article adding that “Their passage could mark a turning point”.

However, there are still “deep divisions between the EU and IMF, which insists that Greece’s creditors must reduce its huge debt load to make it sustainable”.