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Greek Bailout Review to Reportedly Begin on January 18

Greek-European-FlagsThe first Greek bailout review is expected to begin on January 18, according to one European Union official, Reuters reported.
The same European Union official noted that it could practically start later.
Successfully completing the bailout review would pave the way for additional funding from the three-year 86-billion-euro bailout. Greece has already received 21.5 billion euros thus far.
Eurogroup President Jeroen Dijsselbloem had claimed on Thursday that the completion of the review could take months.
The bailout review itself will include legislating reforms in the country’s social security system. In the past week, the Greek government proposed a reform plan.
A second EU official told Reuters that the proposed pension reform needs to be accompanied by additional information.
“We don’t have a problem with the broad architecture of the reform. But does it add up? We need to get more numbers and technical data from Athens to be able to tell,” the official was quoted as saying by Reuters.

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