Eurogroup meeting in Milan

The informal Eurogroup meeting to be held on Friday in Milan will evaluate the progress made in the implementation of the Greek programme after the government’s negotiations with the troika in Paris and ahead of the troika’s arrival in Athens in September, according to a senior eurozone official.

Regarding the sustainability of the Greek public debt, the official said, it consists part of the discussions with the Greek authorities underlining, however, that the most essential negotiations will be held after the completion of the evaluation. He also clarified that the analysis of the Greek debt’s sustainability is linked with the fiscal performance in 2015.

The official reiterated that the member-states’ obligation is to have presented their draft budget for the next year to the Commission by mid-October, which will then be evaluated by the Commission at the end of November.

A discussion on the Cyprus’ programme is also on the agenda of the Eurogroup meeting, but officials are not expected to raise the issue of the disbursement of the tranche.

On Thursday evening, the European Central Bank governor Mario Draghi met briefly with Greek Finance Minister Gikas Hardouvelis in Milan.

According to sources, during the 15-minute meeting, the two officials discussed the conclusion of the memorandum and other issues regarding the Greek economy.

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