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Greece’s Hope for Eurozone Aid Shifts Back to Brussels
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By JAMES KANTER, New York Times
BRUSSELS — Greece’s continuing effort to unlock aid from its European lenders moves back to Brussels on Monday afternoon, where eurozone finance ministers will assess the latest Greek set of economic proposals.
Although European officials have agreed in principle to disburse an additional 7 billion euros, or about $7.6 billion, from Greece’s €240 billion bailout program, they have indicated that no money will be released before April. And they have said it would only happen if the new left-leaning Greek government can demonstrate it is serious about improving its tax-collecting efforts and making structural changes in the economy.
No final decision is expected at Monday’s meeting, the regularly scheduled monthly session of the Eurogroup, the 19 eurozone finance ministers. But the meeting could signal how close or not Greece is to producing a plan that is likely to persuade creditors to continue lending it money.
In interviews over the weekend, some European officials — including the Eurogroup’s leader, Jeroen Dijsselbloem — expressed reservations about the latest set of proposals.
Late last week, Greece’s finance minister, Yanis Varoufakis, submitted a set of proposed measures, including an unorthodox plan to enlist Greek citizens and tourists in an undercover program meant to identify tax evaders.
If that idea conveyed a sense of desperation, it might be for good reason. Greece runs the risk of running out of money before the end of this month, as tax receipts shrink and the economy shows signs of lapsing back into recession. The government could have trouble repaying or refinancing a total of about €7 billion it owes this month to the International Monetary Fund and other creditors, or meeting government salary and pension obligations.
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