Greek Bailout Program to Be Evaluated in October According to Eurozone Official

EU_Europe_Greece_Eurozone_EurogroupThe procedures for the first evaluation of the new bailout programme will start in October, a senior Eurozone official said on Wednesday.

Apart from the technical issues of the evaluation, issues of political interest such as the IMF‘s role, measures for debt relief, and recapitalisation of the Greek banking system, will also be discussed. He estimated that an agreement will probably be reached in regards to IMF ‘s role in the programme, but the recapitalisation of the banking system, needed more attention and a plan will begin to be discussed at the Eurogroup meeting next Saturday.

The official underlined that the repercussions of the capital controls on the Greek market were limited compared to other countries such as Iceland and Cyprus while he could not predict when capitol controls will be lifted.

Finally, he expressed his certainty that the new Greek government will respect the agreement adding that the terms of the memorandum are under constant negotiation and some of them may change.