Troika Negotiations with Greece Frozen Until Further Notice

troika-hardouvelisGreece’s financing plan extension will come to an end on February 28, in accordance with the Eurogroup decision from December 8. After the failure to elect a new Greek President and the elections of January 25, troika is considering another extension for the Greek financial plan, knowing that whatever government comes to power will not be able to close the difficult negotiations which began last September.

Troika will have to monitor developments in Greece from a distance, since the International Monetary Fund temporarily closed its office in Athens. The permanent ranks of auditors left the country for Washington and their hometowns with intentions to return after the elections.

Essentially, negotiations are now frozen, while the European lenders and partners are preparing their own plans for developments for Greece.

The first euroworking group of the year will take place on January 12, in Brussels. Greece’s representative and Finance Ministry secretary-general Anastasios Anastasatos will meet with European government representatives, in order to inform them on the country’s developments.

However, the early elections will be held three days after the first European Central Bank meeting and one day before the first Eurogroup of 2015. This will act as a crash-test for professor Gikas Hardouvelis (if he remains appointed as minister) and the Bank of Greece Governor Yannis Stournaras who will meet with their European counterparts. The two men have already met and are planning on showing that Greece is united within and outside of its borders.


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