Bailout review likely to drag as prior actions pending

Despite the encouraging statements made by top European officials on recent visits to Athens, the fact remains that the bulk of the prior actions authorities must enforce by year-end remains pending.

According to sources, only 20 of the 46 prior actions scheduled to be implemented over the summer have been put into action; a total of 95 are slated for implementation by the end of the year.

In view of the slow progress, it is likely that the completion of the review will be staggered over the coming months.

Mission chiefs representing the country’s international creditors are expected to return to Athens on October 22 for a brief visit and to return in November for a more comprehensive audit.

However, it seems unlikely that the bailout review will be signed off at a meeting of eurozone finance ministers scheduled for December 4, as the government had originally hoped.