BUSINESS

Euro Working Group meets Monday after summer recess

TAGS: Euro, Finance, EU

The Euro Working Group will convene for the first time after the summer recess Monday, ahead of the third review of Greece’s third bailout and amid concerns about the road ahead, as the negotiations in the coming months are expected to be difficult.

The government’s stated objective is to wrap up the third review at the Eurogroup on December 4.

Finance Minister Euclid Tsakalotos and his deputy Giorgos Houliarakis will be aiming to establish a framework to complete the review in their meeting Tuesday with European Commissioner for Economic and Financial Affairs Pierre Moscovici in Brussels.

The timely completion of the review is an essential part of the government’s narrative, which foresees the country exiting the bailout program by summer 2018.

Athens will try to get creditors to back this narrative by citing better growth rate figures, the 1.75 percent primary surplus target that it expects to meet, and a rise in deposits.

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