EU and IMF auditors blocking vital funds standing between Greece and an early debt default will return to Athens tomorrow for crunch negotiations with the government.
"I'm glad to announce that the 'troika' (of EU, IMF and European Central Bank officials) has decided to resume the mission to Greece," EU economic affairs spokesman Amadeu Altafaj said.
€8 billion of loans from a first bail-out agreed last year are at stake, with Athens saying it must have the money if it is to be able to pay its bills. If the auditors decide the Greek government is doing enough to merit the financial aid, its euro zone partners and the International Monetary Fund will then have to sign off the money.
Euro zone finance ministers meet on Monday in Luxembourg but Altafaj indicated he did not expect the discussions in Athens to be concluded in time, saying a further meeting of the Eurogroup would have to be called to make a decision on the audit findings "as soon as possible."
EU, IMF and ECB auditors left Athens abruptly earlier this month amid disagreements over how much progress Greece was making in meeting its bailout targets.
After a day of wooing businessmen in the German capital yesterday, Greek Prime Minister George Papandreou said Greece was determined to implement reforms "not only to overcome the present crisis, but to make Greece more competitive".
In Athens, Greek deputies approved a controversial property tax last night in a bid to plug a budget hole and help unlock bailout funds needed to prevent a sovereign debt default that could come as early as next month.
Papandreou told an audience of German business leaders that the rescue plan was not just about keeping Greece afloat. "It is an investment in a different Greece, a Greece that is confronting problems that were overlooked for decades."
Greece was making a "superhuman effort" to bring down its debt, he insisted. "I can guarantee that Greece will live up to all its commitments. I promise you we Greeks will soon fight our way back to growth and prosperity after this period of pain,'' he added.
Greek finance ministry officials say Athens may announce a number of privatisation deals this week as the debt-wracked country comes under increasing pressure from its creditors to meet tough fiscal targets.
