Greece is off Eurogroup agenda

The next government in Greece will be the one to offer the necessary explanations to the Eurogroup about the outgoing administration's handouts, which appear to be leading the country toward a fiscal derailment and target shortfalls.

A senior eurozone official said it is "highly unlikely" that the Greek issues will be discussed at Thursday's Eurogroup meeting in Luxembourg. Therefore any discussions will be put off until the Euro Working Group scheduled for early July.

Of course there is always a chance one of the eurozone finance ministers might raise the issue of the government handouts with his outgoing counterpart from Greece, Euclid Tsakalotos, who will be present at the meeting.

"It is possible the enhanced surveillance report will be discussed at the July Eurogroup," the same source added, although he said even that date may be difficult as it will be...