IMF: The discussions between troika and Athens start Monday

The International Monetary Fund mission will begin discussions with the Greek authorities Monday, February 24, IMF spokeswoman Angela Gaviria said. According to her the purpose of the talks is to "reach an agreement in a number of policies that are required in order to complete the fifth assessment" of the economic program, under the Extended Fund Facility/EFF.

At the recent press conference of IMF spokesman Gerry Rice in Washington and answering a question about the funding gap of the Greek program, Rice said that the issue will be addressed when the troika returns to Athens.

Also, to a question on whether achieving a primary surplus leads to developments in the Greek debt Rice said, inter alia, that "Greece's European partners have agreed to proceed with a debt relief, if necessary, which will depend on whether Greece is perfectly aligned with the observance of the program’s commitments. This will mean that the debt to GDP ratio will be reduced to 124% of GDP in 2020 and significantly below 110% by 2022."

It should be pointed out that last week, Bloomberg news agency advocated the "immediate deletion" of the Greek debt, "as soon as possible," citing European solidarity, although, as it said, investors have stopped worrying about a possible Greek exit from the Eurozone.

Stournaras after the Eurogroup: There is work to be done, but it seems very difficult not to come to an agreement

Reporting from Brussels: Ioannis G. Antipas

The Greek finmin appeared cautiously optimistic about reaching an agreement - "Pleasant waiting" for the final height of the primary surplus in 2013

After the end of the Eurogroup discussions, Finance minister Yannis Stournaras held a press conference and said that there was a detailed discussion about the fiscal situation in Greece and the real economy.

He also said that although there is skepticism as to the amount of the surplus by commissioner Rehn he was congratulated by several of his colleagues.

The discussion included the issue of troika’s return and evaluation, and the state of negotiations. As the minister said, the representatives of Greece’s lenders are expected to return probably this Sunday. “The troika team is going to return to Athens as the end of the week, Sunday the latest, aiming to agree on the evaluation program before the next Eurogroup meeting on March 10.”

Stournaras also appeared cautiously optimistic about reaching an agreement with the troika, which is expected to come in March, so there will be enough time for the country’s partners to disburse the remaining tranche of 2013 and the first package of 2014 before the elections.

Asked about the amount of the tranche, the finmin said that the aim is to have a decision “for the amounts due in 2013 and the first installment of 2014” to meet the borrowing needs that exist in mid-May for the repayment of bonds amounting to about 8.8 billion.

Referring to the outstanding issues he said that Greece has already met 78% of its commitments to structural reforms, while the remaining key issues are to reduce by 3.9% on insurance levy, certain taxes towards third parties and most of the "toolbox" of OECD.

Regarding the Troika request for collective layoffs, Stournaras said that Employment minister Yiannis Vroutsis has sent a plan consistent with the relevant EU regulations.

Lastly, Stournaras did not want to determine the amount of the surplus but said it is a "pleasant waiting".