Our partners want commitments from the next government as well

The Eurogroup, which met today in Brussels with the participation of Finance minister Evangelos Venizelos, decided on the continuation of consultations among Greece on one hand, (supported by the Troika and other members of the EWG negotiating team), and among the private sector on the other, to give final shape to the PSI as soon as possible.

According to the relevant information, the aim is to fully implement the decision of 26/10/2011. Given the maturity schedule of Greek bonds, the special target is the formal bid for the PSI to be made by February 13, 2012. The relevant issues will be addressed at the level of the Euro Working Group and the Eurogroup.

The Eurogroup discussed the updated sustainability analysis (DSA) of the Greek public debt prepared by the Troika, to ensure that by 2020 the debt will be moving along 120% of our GDP. The growth of the Greek economy and the interest coupons of the new bonds are of course critical parameters.

Under the decision of the European Council on 26/10, the Eurogroup has linked the PSI with the new program to support Greece (130 billion euros added to the 110 billion of the original program), which in turn is linked to the assessment of the current program and the commitments to be undertaken by Greece for the new one.  

According to an informal briefing by the Finance ministry, the basic commitments will be set as prerequisite actions for the disbursement of the necessary PSI funds.

Circles of the government indicate that "the clear political commitments that must be made by the parties involved in the current government are crucial, not only for the current period but also for after the elections and the formation of the post-election government."