The Parliamentary Budget Officer has issued a trimester report, according to which there is a significant lack of planning for the post-bailout era, which in turn will necessitate strict supervision of the Greek economy.
The report, which is for the July-September 2014 period, stresses that the current round of negotiations with the troika are conducted in a developing European framework regarding the progress of European monetary and fiscal policy. The authors liken this process to “quick sand”.
Furthermore, the report points out that while the current review has not been completed and the troika will return to Athens in November, the Greek government has accumulated hundreds of outstanding commitments.
This means that “once again” the Greek side such is not so much negotiating the terms of financial policy, but whether to what extent these commitments may be implemented, if not amended or repealed.
