After troika deal, Greek coalition aims to secure next bailout tranche on April 1

After reaching an agreement with the troika on Tuesday, the Greek government now has to prepare legislation for the reforms it agreed with its lenders in the hope that the disbursement of at least 10 billion euros in loans will be approved at an informal Eurogroup meeting due to take place in Athens on April 1.

Athens and the troika did not comment publicly on the details of the deal, clinched around lunchtime, apart from Prime Minister Antonis Samaras confirming that social security contributions would be reduced by 3.9 percentage points.

Samaras is due to meet Deputy Premier Evangelos Venizelos at the Maximos Mansion on Wednesday to discuss the coalition’s next steps. Government sources said that the two leaders must decide whether the reforms Athens agreed to will be legislated in one multi-bill or if several draft laws will be submitted to Parliament. The coalition aims to pass the measures before the end of the month so eurozone finance ministers can approve the release of the next tranche on April 1. It is not clear how much will be disbursed, though. Greece has a maximum of 11 billion euros to receive from the eurozone and 3.6 billion from the International Monetary Fund.

Kathimerini understands that Greece agreed to adopt 75 percent of the 329 liberalization measures recommended by the Organization for Economic Cooperation and Development (OECD). Another 15 percent will be adapted to the specifics of the Greek market, while the remaining 10 percent have been put off for now.

Greek officials agreed with the troika to lower fines for the late payment of taxes and to disconnect the public sector mobility scheme from the need for sackings. Administrative Reform Ministry sources said that firings of civil servants would...