Displaying items by tag: contingency mechanism

The government is already drafting the bill to close the remainder of open issues before the next Eurogroup meeting on May 24. This includes a rise in VAT, Non Perfoming Loans, setting up a new Privatization Fund and the Contingency Mechanism.

The European Commission does not think that Greece needs to vote for specific contingency measures but for a mechanism outlining how such measures might be taken, European Commissioner for Economic and Financial Affairs Pierre Moscovici told a group of reporters, on Thursday.