The Eurogroup meeting and Euro Summit taking place yesterday ended without a deal between Greece and its leaders, but opened up the opportunity for a deal at the end of this week.
The new reform plan submitted by the Greek government on Monday morning was welcomed by the Eurogroup and ‘considered … a positive step in the process’. The plan includes a raise of VAT, a raise of the retirement age and an increase in health contributions.
The reform plans will be analysed by the Commission, ECB and IMF. On Wednesday evening, the Eurogroup will meet again to discuss the plans and present the results on Thursday. On Thursday and Friday, European leaders will gather in Brussels for the European Council.