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Country Report Estonia

  • ID: 2114012
  • July 2015
  • Region: Estonia
  • 67 Pages
  • The Economist Intelligence Unit

European leaders have agreed measures with Greece to provide bridge financing and open discussions about an ESM package, subject to upfront conditions being met. The deal addresses most of the immediate risks, but we do not believe it removes the likelihood of Grexit.

The key outlines of the compromise deal are as follows. Greece will be given fresh loans from the European Stability Mechanism (ESM) to meet its financing needs over a three-year period, which the euro zone leaders estimate at EUR82bn-86bn. In return, the country will have to implement a package of structural reform and large-scale asset sales.

It appears that an earlier list of reforms compiled by finance ministers has been whittled down to six key priorities, which the Greek government will need to pass through parliament by July 15th. The priorities for reform are: the value-added tax (VAT) regime, the pension system, the bank resolution framework, the national statistics agency, the justice system and fiscal good governance.

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Country Report Estonia

Grexit delayed, but not avoided
Familiar promises of structural reform and asset sales
Grexit still looks likely in medium term

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Note: Product cover images may vary from those shown

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