The EU leaders summit taking place on Thursday and Friday in Brussels coincides with the end of Greece’s six-month EU presidency. Greek Prime Minister Antonis Samaras will represent Greece for the first time following the European elections. There are two big issues for EU heads of state to ponder: A review of the fiscal plans and structural reforms of member states and the appointment of the European Commission President.

The summit comes at a time when France and Italy have been struggling with the strict conditions of the Stability and Growth Pact (SGP) for some time and have lodged a joint proposal for more flexibility and time. This proposal has already met with the disapproval of Germany.

With Greece feeling the strain of major reforms, the country’s position is close to that of the French-Italian side. Nonetheless, there is disagreement that tolerance is being shown to other countries as far as deficits are concerned at a time when there is a rigid position concerning Greece. The country has been required to make rigid reforms with firm demands for a 1.5 surplus for 2014 and 3 percent for 2015 onwards.

The government is voting on a torrent of new legislation over the coming weeks. The Troika’s arrival in Greece on July 10 is considered to be a landmark visit with the government rushing to complete six requirements for May and three more for June in order to get the go-ahead for the next tranche of loans. Following this, a major evaluation of the Greek program is scheduled for September along with negotiation over the country’s debt. On July 2, Mr. Samaras is meeting  with JP Morgan Chief Jamie Dimon.