Budget Office chief: Eurogroup decision positive, but road towards agreement is long

Eurogroup’s decision to approve the return of the mission chiefs in Athens is a positive development but the road towards the final agreement is long and unclear, the head of the parliament’s Budget Office, Panagiotis Liargovas, said on Wednesday.

“The Eurogroup decision is positive, despite the fact that the delay and significant cost the economy was burdened with all these months could have been avoided,” Liargovas told a parliamentary budget committee.

He warned the path towards the final deal is long and uncertain as it concerns resolving a “difficult equation” with five unknown factors: The exact content of the new measures, which will be revealed in the coming days, their value, the clauses to activate the so-called counter-measures, the decisions on the primary surpluses and the decisions on the debt.

“And as the time frame – along with the measures and counter-measures- reach 2020, we start to make out the outline of the era after the completion of the third memorandum or oversight,” he told the committee, adding that the responsibility for the time and method of implementation is in the hands of the government.