A mountain of milestones for Athens

A mountain of milestones for Athens

The staff-level agreement reached on Saturday between the government and the country’s creditors was just the first step toward closing the fourth and final review of the bailout program, as Athens has a mountain of legislative work ahead of it to complete 78 of the review’s 88 milestones in time (the rest will be postponed until the post-program period).

On Monday Prime Minister Alexis Tsipras told his cabinet the prior actions should be wrapped up by June 10-12 at the latest, along with the midterm fiscal plan for the 2019-22 period.

Athens is planning for a multi-bill to be tabled by June 5 and voted through by June 9, for the creditors to confirm the satisfaction of all requirements by the June 21 Eurogroup. The aim is for that meeting to settle everything: the review and the disbursement of the tranche, the easing of the debt and the post-program surveillance, though many people say the latter issues will need the extra time until the July 12 meeting.

The multi-bill is set to include the 2019-22 midterm fiscal plan, the social policy measures, the inclusion of the 2017 debts in the extrajudicial settlement mechanism, the new Single Property Tax (ENFIA) based on the new “objective values,” and the changes to labor mediation.

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