WORLD ECONOMIC & MARKET DEVELOPMENTS
GREECE: The Greek government and the institutions are reportedly close to an agreement in the context of the 2nd programme review. Today’s Euroworking Group (EWG) is expected to discuss the progress made and could potentially give the green light for the return of the institutions’ mission heads to Athens for the conclusion of the staff-level agreement. Meanwhile, with regard to the proposed legal framework for the out-of-court workout (OCW), the Hellenic Bank Association (HBA) has voiced out some serious concerns claiming that as things stand the new legislation might end up harbouring strategic defaulters.
SOUTH EASTERN EUROPE
ROMANIA: The consolidated government balance in cash terms switched to a deficit of RON2.6bn in February down from a surplus of RON3.0bn in January.
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