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EditorialEditorial • July 6th, 2018
As the Greek programme is approaching its comple- tion, the past few months have been characterised by intense activity. A staff-level agreement of the Euro- group Working Group (EWG) was reached on 19 May on a package of reforms –including privatisations and energy market reforms– required for the successful completion of the fourth and final review of the Greek programme. This agreement was presented to the Eu- rogroup of 24 May 2018. However, by all accounts it will not be possible for the government to implement all 88 preconditions for the conclusion of the evalua- tion by the 21 June target date, when the Eurogroup is set to discuss a comprehensive exit package, includ- ing the conclusion of the evaluation, post-bailout fis- cal oversight, and debt relief. The European creditors are reportedly prepared to wait until mid-August –just before the scheduled end of the bailout programme– for implementation of the agreed reforms. Another cru- cial issue is the discussion on debt relief
