Top Banner
1 After surviving the recent motion of censure initiated by the main opposition party, Greece’s coalition government is facing a number of important hurdles and challenges in the period ahead, stemming from a still-difficult domestic socioeconomic environment and a particularly demanding round of negotiations with the troika of official lenders. Undoubtedly, the road leading to the next EU loan disbursement and the completion of the present program review is bumpy, especially taking into account the range of quantitative targets and structural benchmarks included in the agenda of the current negotiations. After a temporary pause, talks between the Greek government and the troika resumed last week, but according to a number of press reports a diversion of view continues to exist on key issues such as the size of the projected fiscal gap in FY-2014 and the restructuring plans for domestic defense industries, ELVO and HDS. In this report we offer a comprehensive overview of what has already been achieved and the pending issues in the way to the conclusion of the current review. In addition, we present a timeline of the key dates and events that deserve close monitoring in the period ahead.
11

After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

Jul 11, 2020

Download

Documents

dariahiddleston
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Page 1: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

1

After surviving the recent motion of censure initiated by the main opposition party

Greecersquos coalition government is facing a number of important hurdles and

challenges in the period ahead stemming from a still-difficult domestic

socioeconomic environment and a particularly demanding round of negotiations

with the troika of official lenders Undoubtedly the road leading to the next EU

loan disbursement and the completion of the present program review is bumpy

especially taking into account the range of quantitative targets and structural

benchmarks included in the agenda of the current negotiations After a temporary

pause talks between the Greek government and the troika resumed last week but

according to a number of press reports a diversion of view continues to exist on key

issues such as the size of the projected fiscal gap in FY-2014 and the restructuring

plans for domestic defense industries ELVO and HDS In this report we offer a

comprehensive overview of what has already been achieved and the pending issues

in the way to the conclusion of the current review In addition we present a

timeline of the key dates and events that deserve close monitoring in the period

ahead

2

3

4

5

I

II

6

III

IV

7

V

8

VI

VII

25 As regards the criteria under which domestic banks will be empowered to undertake property foreclosure reportedly

9

VIII

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 2: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

2

3

4

5

I

II

6

III

IV

7

V

8

VI

VII

25 As regards the criteria under which domestic banks will be empowered to undertake property foreclosure reportedly

9

VIII

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 3: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

3

4

5

I

II

6

III

IV

7

V

8

VI

VII

25 As regards the criteria under which domestic banks will be empowered to undertake property foreclosure reportedly

9

VIII

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 4: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

4

5

I

II

6

III

IV

7

V

8

VI

VII

25 As regards the criteria under which domestic banks will be empowered to undertake property foreclosure reportedly

9

VIII

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 5: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

5

I

II

6

III

IV

7

V

8

VI

VII

25 As regards the criteria under which domestic banks will be empowered to undertake property foreclosure reportedly

9

VIII

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 6: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

6

III

IV

7

V

8

VI

VII

25 As regards the criteria under which domestic banks will be empowered to undertake property foreclosure reportedly

9

VIII

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 7: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

7

V

8

VI

VII

25 As regards the criteria under which domestic banks will be empowered to undertake property foreclosure reportedly

9

VIII

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 8: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

8

VI

VII

25 As regards the criteria under which domestic banks will be empowered to undertake property foreclosure reportedly

9

VIII

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 9: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

9

VIII

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 10: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

10

14-Nov

9-Dec

22-Nov

15-Nov Spring

2014

13-Dec11-Nov

22-25

May

18-Nov 21-Nov

19-20

22-Apr

10-Jan 17-Jan

20-Dec 11-Jan

Greece Key dates amp events in the coming weeks amp months

Eurogroup

meeting

EU Summit

Greece has

euro16bn in T-bills

redemption

Informal Eurogroup

Greek governments

proposed ENFA implemenation

framework to be

reportedly finalised

Greece has

euro16bn in T-bills

redemption

Two 2-year

GGBs matue

for euro18bn

Greece has

euro2bn in T-

bills

redemption

Official discussions on

a new debt relief

package for Greece reportedly expected

to commence

Eurostat EDP

report due for

publication

European

Parliament

elections

Greece hsa

euro2bn in T-

bills redemption

Greece has

euro2bn in T-bills

redemption

Eurogroup

Greece has

euro16bn in T-bills

redemption

Final Budget for 2014 to

be reportedly submitted

to Parilament

Troika

mission

reportedly returns to

Athens

11

Page 11: After surviving the recent motion of censure initiated by ... · Eurostat EDP report due for publication European Parliament elections Greece hsa ½ 2bn in T - bills redemption Greece

11