Alt. FinMin Chouliarakis and institutions conclude meeting on Greece’s proposed mechanism

Alternate Finance Minister George Chouliarakis on Wednesday concluded a meeting with legal staff from the four institutions representing Greece’s creditors, departing without making any statements.

The talks focused on the Greek government’s proposed mechanism for a 3.6-billion-euro package of additional ‘contingent’ measures that the IMF considers necessary.

The aim of the meeting was to make sufficient progress so as to enable the conclusion of Greece’s review at an extraordinary Eurogroup meeting next week.

According to sources, the government has proposed a mechanism for automatically cutting spending in response to any failure to meet budget targets that is confirmed by Eurostat.