Creditors Return to Greece to be Briefed on Progress of Reforms

Nicola Giammarioli,Leiter der ESM-Delegation in Griechenland

Mission chiefs of the quartet of Greece’s international lenders will visit Athens briefly on Tuesday to be briefed about the progress of reforms, following the parliamentary approval of the legislation last week.

Delia Velculescu from the International Monetary Fund, Rasmus Rueffer from the European Central Bank, Nicola Giammarioli from the European Stability Mechanism and Declan Costello from the European Commission will be in Athens for three days. The representatives will evaluate the pace of prior actions required by the bailout program.

The mission chiefs are expected to meet Finance Minister Euclid Tsakalotos and other Greek officials. Focal point is the teleconference meeting of the Euro Working Group on Wednesday, which will prepare the first Eurogroup session Eurogroup on November 9 and more importantly will propose to ESM to give the “green light” for the disbursement of a subtranche of 2 billion euros until October 27.

The quartet will return to Athens in November for the first review of reforms. The review was originally scheduled for mid-October, however, it was pushed back because of the general elections of September 20.

“The key issue that will be examined during the review will be the pension reform. Of course there are other issues as well, but pensions will be in focus,” a government official told Reuters.



  1. Nothing has been done and nothing will be done. Greek politicians still playing the cat & mouse game with Europe and will not implement any changes i.e. to fight corruption and to catch Taxevaders which is one of the most important elements to end this crisis.


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