Greece: Reforms still not convince lenders to advance money – Express

You will in 26 pages, the list of reforms that the Greek government wants to do to convince European and international partners to quickly unlock the EUR 7.2 billion (or part thereof) which remain of financial assistance program. But the details of the measures that are in the document, released today by the Financial Times, has not convinced the European partners.

“Lack confidence in our numbers,” he told Express next European process source. This applies to new projections made by the Greek government that point to a primary surplus – the difference between revenue and expenses not including debt interest – between 3.1% and 3.9%. Value that extends even beyond the 3% that the previous government agreed with the troika, which is well above the 1.5% that Varoufakis defended as the “appropriate primary surplus” established in the extension agreement signed on February 20.

The new list of reforms is the result of negotiations with the representatives of the European Commission, European Central Bank and International Monetary Fund, which took place in Brussels in recent days. However, institutions are still unable to prove “they come from the numbers,” says the same source, and without checking the accuracy of the calculations predict that the total additional revenue may exceed the six billion. Before the Greek government pointed to 3 billion.

By Express was still early that the lack of detail is included in all areas, from the fight against tax evasion, judicial reforms and social security. Another source, close to the SYRIZA government says that this negotiation has been especially the Greek government to give and it is necessary that the European partners leave the executive Alexis Tsipras put the march reforms to prove the projections.

Also in the introduction of the working document with the reforms, it is stated that the Greek government is “prepared to share the full details that are in the technical analysis of the basis of budgetary projections” and at the same time, “seeks to benefit from the practical experience of partners to improve estimates.”

There should be no money before April 9

Another source close to the Eurogroup says that with this list, the Greek authorities and the European partners are closer to “common ground, but there is still much work to do.” The same source said that is “very unlikely” that there is an advance of the rescue funds before April 9, the day that Greece will have to ensure another reimbursement at International Monetary Fund in the amount of 462 million euros.

Speaking to German magazine Der Spiegel, the Greek Minister of Internal Affairs was aware that such payment would not be made “on time” if the country had no access to funds in the short term. Before paying the IMF, the Greek government intends to pay salaries and pensions and the Greeks coffers may be empty since the middle of April.

But the financial asphyxiation, taken by the Greeks, does not seem to have to raise awareness among European lenders. The negotiations with the Greek government will continue, but it is not to have provided any special meeting of the ministers of the eurozone finance (Eurogroup). Only they can adopt – based on the assessment made by the institutions of the troika – an advance of the ransom money.

The next Eurogroup meeting is scheduled for April 24 in Riga, Latvia. If no other scheduled, however, the Greek government is likely to only receive a financial lifeline in May.