Crucial EuroWorking Group underway in Brussels on Greek matter

The outcome of the crucial EuroWorking Group in currently underway in Brussels will most likely determine whether a staff level agreement is possible between Greece and its creditors in order for talks to resume in Athens. Sources say the meeting restarted after a break under the highest degree of discreteness. The Greek government is conveying an optimistic sentiment that a staff level agreement will be reached as soon as Friday. If this achieved, talks on the debt relief is expected to be the next matter on the agenda, in light of the summer IMF Summit meeting on April 22 in Washington. The price for a staff level agreement is predicted to be heavy, with lower income earners and pensioners bearing the brunt. Greek Finance Minister Euclid Tsakalotos and Labour Minister Efi Achtsioglou briefed the members of their coalition partners (ANEL) in the government that 900,000 pensioners will see their income slashed, while the tax free threshold will be cut to 5,900 euros, meaning tax payers with monthly income of 500 euros will have to pay taxes.