Lenders keep close eye on Greece ahead of first review

Lenders keep close eye on Greece ahead of first review

European Economic and Monetary Affairs Commissioner Pierre Moscovici is due to become the latest foreign official to visit Greece on Tuesday, ahead of a vote in Parliament on a multi-bill containing the second set of prior actions the government needs to pass to receive further bailout funding.

The main aim of Moscovici’s visit is expected to be to ensure that Athens remains on track to complete the first review of its new bailout this month. Apart from the vote on the omnibus bill on Thursday, the government also has to draft a pension reform plan and reach an agreement with lenders on what to do with nonperforming loans. The institutions are pushing for tougher criteria for Greeks whose homes are protected from foreclosures.

“The Greek government still has a lot of work to do and I hope to get it all done before the end of the year,” Eurogroup chief Jeroen Dijsselbloem told reporters in The Hague.

Among the most contentious measures due to be voted on Thursday are the changes to taxation for farmers. SYRIZA sources said that the party’s MPs who represent rural areas have been telling the leadership that their constituents have reacted negatively to the tax reforms. However, it is not expected at the moment that any SYRIZA lawmakers will refuse to vote for the multi-bill.

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