New Greece’s government had to submit to the creditors’ requirements. After a failed attempt to threaten the EU with Greece’s exit, Athens worked out a list of reforms to go on with the bailout program. Managing Director of the International Monetary Fund thinks that the list of reforms contains enough proposals for structural changes in Greece’s economy. However, Christine Lagarde voiced concern about lack of concrete steps in the comprehensive list. In other words, Greece still evades guarantees that the suggested reforms will be ever implemented. In this context, the IMF expresses dissatisfaction. On the one hand, Greece’s enthusiasm for changes deserves praise. On the other hand, reforms might be delayed with a valid excuse. “We note in particular that there are neither clear commitments to design and implement the envisaged comprehensive pension and VAT policy reforms, nor unequivocal undertakings to continue already-agreed policies for opening up closed sectors, for administrative reforms, for privatization, and for labor market reforms,” Christine Lagarde notes in the letter to Eurogroup President Jeroen Dijsselbloem. In conclusion, the IMF Managing Director mentioned positive changes which are already underway in Greece. For example, Athens has launched campaigns against corruption and tax evasion. However, the reforms aimed to tackle these problems also do not set out any steps. Apparently, the Troika of creditors puts their faith in Greece. The Council of the eurozone finance ministers approved tentatively Greece’s list of economic reforms. It seems that the European Commission is also pleased with Greece’s plan.
