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Tuesday, 13 September 2016

Greece: The Race to Implement Thirteen Measures

The Thirteen Pending Prerequisite Bailout Measures, "Prior Actions" and Milestones:

Αγώνας δρόμου για να κλείσουν όλα τα προαπαιτούμενα

"Today we discussed first of all the state of affairs in Greece. We took stock of the progress. There are number of milestones still pending to fully complete the first review and coupled with those are further disbursements. So we took stock of those and heard a little about the issues at stake. There was a general feeling that we must not lose time - the time scale that was drawn up and agreed in May 2016 - so more progress is needed and we strongly encouraged the Greek government as a whole to speed up the implementation of the remaining milestones".


"The Euro Summit stresses the crucial need to rebuild trust with the Greek authorities as a prerequisite for a possible future agreement on a new ESM programme. In this context, the ownership by the Greek authorities is key, and successful implementation should follow policy commitments...
Given the need to rebuild trust with Greece, the Euro Summit welcomes the commitments of the Greek authorities to legislate without delay a first set of measures".

Apart from the formalities of tabling and passing legislation, I am never quite clear when "prior actions" become "subsequent actions" in terms of implementation. 

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