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EU source: Greece has made little reform progress

Same procedure as last time? Same procedure as every time! – before Greeks and lenders come together to talk about the Program progress that usually ends in the release of a bailout tranche. As the second review of the Greek program in terms of the third bailout are to commence in September and a 2.8-billion euro tranche is waving to Greeks, the usual “anonymous sources” of the European Union thought to lay the ground for …constructive talks.

A senior ranking European Union official has told Kathimerini that Greece made very little progress in August regarding its commitments to its lenders, insisting that their implementation ahead of the second review of the country’s third bailout this fall will create a positive dynamic.

The official spoke ahead of Tuesday’s Euro Working Group (EWG), and after Monday’s meeting in Brussels between European Commissioner for Economic and Financial Affairs Pierre Moscovici, Finance Minister Euclid Tsakalotos and Economy Minister Giorgos Stathakis.

All three agreed that it is imperative the second review is completed as soon as possible to make way for the discussion about Greece’s debt and the participation of the International Monetary Fund in the bailout.

However, another official told Kathimerini that the debt issue, which will be discussed at the EWG, has yet to catch on with other EU member-states.

Apparently aware of the usual obstacles and arguments, Finance Minister Euclid Tsakalotos assured on Tuesday, that there will be no delay in the release of the 2.8-billion euro bailout tranche, other than for technical reasons and no longer than 24 to 48 hours.

PS I see a long hot autumn ahead

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