BUSINESS

Change of guard in the cards for key Greek bailout monitors

ELENI VARVITSIOTIS

TAGS: Diplomacy, Economy

A change of guard is in the cards for some of the key representatives of Greece's international creditors with new bailout monitors expected to assume their posts in the fall.

A key switch is expected in September when the European Commission representative, the Irishman Declan Costello is likely to leave his post, opening the way for a replacement from Portugal.

Joao Nogueira Martins had an active role during the implementation of the first bailout for Greece, extended to the country in 2010.

The anticipated takeover by Martins is expected to be a positive development for Greece as he already has good insights into the country's social and economic reality. He had displayed a genuine concern for the success of the program and the country's exit from foreign supervision, sources say. 

Another likely departure is that of the head of Euro Working Group, Thomas Wieser, who is set to retire early next year. 

With the possibility of a new Dutch government at the end of August, it is also likely that the current head of the Eurogroup, Dutch finance minister Jeroen Dijsselbloem, will also be replaced. 

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