Three hectic months ahead for the Greek government

Eurozone finance ministers on Monday gave Greece a tight timetable for the completion of the fourth and final bailout review, the agreement on the post-bailout framework and the measures to ease its debt, so that everything will be completed by June 21. In Monday's Eurogroup meeting they also opened the way for the disbursement of the first subtranche of the third review, amounting to 5.7 billion euros, by the end of this month.

Despite the optimism expressed by officials after the Eurogroup meeting on Monday, the next few months will see a standoff between Greece's creditors, with the International Monetary Fund pushing for the implementation of all measures voted and the reduction of pensions and the tax-free level next year and not gradually in 2019 and 2020 as the European Commission would have it.

Using different forecasts to Brussels, the IMF will fight hard...