Bloomberg: Greece has Only Completed 1/3 of Bailout Prerequisites

Monday, January 30th, 2017
Last Update: 22:15

Greece has now completed almost two-thirds of its bailout prerequisites, as the Greek government conceded in a memo discussed between Finance Minister Euclid Tsakalotos and creditors in Brussels, Bloomberg said.

The memo has not been made public. Even though Athens promises it will fulfill its remaining obligations, lenders said the proposals weren’t good enough, an official close to the talks told Bloomberg.

Negotiations between Greece and creditors are at a standstill as Athens publicly accuses creditors of asking for additional austerity measures in order to complete the second review.

On Monday, Greek stocks fell 3.5 percent, the lowest since December 15 at the close in Athens. Yields on 10 year-notes rose 48 basis points to 7.66 percent, amid renewed doubts about the prospects for completing the review before national elections in the Netherlands, France and Germany later this year, according to Bloomberg.

Greece has until the Eurogroup of February 20 to complete the review before the round of elections begins in the Netherlands in March.

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