Brussels: Whether the program will continue or not is up to Greece
According to Eurozone’s senior official, the progress of the Greek program after talks in Paris and Troika’s visit to Athens in September, will be discudded on the sidelines on Friday’s Eurogroup in Milan.
The same source stressed that the issue of the debt sustainability will be discussed with the Greek authorities in the ongoing assessment, while added that the final and more substantive negotiations will be conducted after the evaluation is completed.
However, the senior official made clear that the analysis of the debt sustainability is also related to the 2015 financial performance, meaning the course of the deficit, the revenue as well as the expenses.
Further, he reminded that the State Members have the obligation to present their next year’s budget plans to the Commission until mid October.
When the official was asked about what will follow after the completion of the Greek program, he replied that is totally up to Greece, while he added that under request , there is a possibility for the current second program to be extended, or even, for a third program to be created.
Moreover, if the Greek side decides that there is no need for a new program, then the funding will must be made through the markets.
Finally, the senior official supported that, given the fact that Eurozone’s participation to the Greek program will conclude at the end of the year while the one of IMF will continue for another 15 months, would be oxymoron only for the IMF to continue on its own.