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Greece reiterates pledge to IMF to implement 21 prior actions by June 2018


letter of intent was sent by the Greek government to the IMF that is attached with a list of 21 commitments that the Greek government promises to implement by June 2018, Kathimerini reported.

The letter, signed by Greek Prime Minister Alexis Tsipras, Finance Minister Euclid Tsakalotos and Bank of Greece (BoG) Yannis Stournaras, includes a pledge to finally legislate a change in the way industrial actions are decided and taken in Greece, i.e. a majority of all workers instead of a plurality of those present at a general assembly.

Additionally, the government promises, according to the same reports, to cap public sector work contracts for 2017 and 2018, while also ensuring that whatever contracts are transformed into permanent contracts - via Greek court rulings -- will not negatively affect fiscal targets enshrined in the medium-term program for 2018-2020.

 In addition the Greek government promise to conclude a recalculation of pension payments, a process expected to reduce overall social security spending.

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