Intense bargain for debt-loan agreement

Broad meeting with the ministers of Interior, Labour, Health and Defence

Intensification of the bargain for the debt-loan agreement 

Talks are continuing, many fronts still remain open, many have closed and one is locked! 

As everything indicates, most parts of the Greek bond exchange program have been “locked” and now it is up to the decisions on the "Greek program" that will be made by the party leaders today with the hard austerity measures of the new contract. 

After the 12-hour meeting he had with the Troika, Finance minister Evangelos Venizelos said: "We have resolved several issues. There are still several critical issues concerning the country's future. We must complete the PSI, which is the easiest part of the process. We will do our best for the Greek people. We are trying for the minimum of sacrifices and the greatest benefit possible, especially for young people, the unemployed, those of low and middle incomes and those in need. Today (Saturday) is the moment of truth for all political parties." 

As apparently most issues associated with the PSI are almost resolved and agreed upon (which is also the reason why IIF CEO Charles Dallara is coming back to Greece), the onus is now on the measures that will constitute the Greek austerity program. 

At 10.30 am there will be a broad meeting with ministers of Interior Tassos Giannitsis, Labour George Koutroumanis, Defense Dimitris Avramopoulos and Health Andreas Loverdos, which will address the cost-cutting measures in the areas of their responsibility. At 2 pm there will be another meeting with the Troika on these measures, while at 2.30 pm Evangelos Venizelos will update his European counterparts in a telephone conference. 

Consequently, the Eurogroup meeting next Wednesday, with the finalisation of the new "memorandum" for Greece, is considered crucial.