The problem of the Italian banks and their “red” loans, the fiscal condition of Spain and Portugal as well as the general condition of the economy of the Eurozone will be the subjects which will be addressed in Monday’s Eurogroup. The official Eurogroup agenda does, however mention that the “European partners will continue to oversee the Greek rescue program”.

The Eurozone finance ministers are expected to deliberate, in the aftermath of Brexit, on the economic growth possibilities as well as the condition of the markets based on a presentation which to be presented by the ECB and the Commission.  
According to an official, Brussels do not intend to talk on the Greek issue until September. The same, high ranking official stated that the Greek issue remains, a challenge which will have to be addressed.

Sources from the Commission assured that, for the time being the is no “important delay” in the application of the prior actions which are programmed to unlock the 2.8bn sub-tranche.

It should be noted that the September sub-tranche is dependent on dozens of strict prior actions concerning crucial changes in Greek labour legislation, mass redundancies and trade rules and restrictions.

A report published today by the IMF brings forth the Greek problem while asking for widespread reforms and changes in the job market so that it will become more “flexible” and thus limit youth unemployment.