they have to pay the political cost. The Eurogroup wants to see that political cost being paid.”- Greece has days for reform deal, must start 3rd bailout talks-official | Reuters

Agreement will be tricky, because the euro zone wants Greece to commit to major policy changes that go against what Tsipras and his Syriza party promised voters, notably on pension and labour market reforms.

“I don’t see a possible conclusion if the Greeks don’t make a very significant move in one or two or three areas,” the official said.

“It could be pensions, it could be the labour market but … they have to pay the political cost. The Eurogroup wants to see that political cost being paid.”

If representatives of the creditors and Greece can agree on such reforms next week, euro zone finance ministers could endorse the deal at their May 11 meeting or at an extraordinary session a few days later if necessary.

via Greece has days for reform deal, must start 3rd bailout talks-official | Reuters.

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