The Greek Crisis: government to plan new reforms

Greek government is facing public discontent as it prepares to approve a new austerity measures and to proceed with a controversial new round of privatisations to secure more cash from its creditors.
Tsipras government presented on Monday its 2017 draft budget to parliament, projecting an economic growth of 2.7% after eight years of recession from a 0.3 percent contraction this year.

Macroeconomics data describe the worst scenario: unemployment is forecast to remain high next year, at 22.4% while the national debt at a staggering 175% of annual output, 318.7 billion euros.

The Greek Minister of Finance Euclid Tsakalotos will travel to Washington for meetings with IMF officials in order to discuss the Fund’s participation in the Greek bailout program. The latest sources however have noted that the IMF is geared towards not participating in the Greek program.

The IMF is expected to publish its own debt sustainability analysis in December, based on the review of the Greek economy recently carried out by its officers. Until then, the Greek government will push forward with the second bailout review, in hopes of concluding it by the end of the year.

On Monday, protesting pensioners required police's intervention in Athens; more than a thousand people had gathered near the office of Prime Minister Tsipras to protest against recent cuts, the WSJ referred. No arrests or injuries were reported.