The moves seen earning Athens some fiscal space

The government is banking on a combination of seven moves, and possibly an eighth, to secure the necessary fiscal space for its 2020 tax breaks, while also cultivating a climate of trust with the country's creditors so that they view Athens' arguments in a positive light.

The creditors' mission chiefs appeared provisionally convinced there will be no budget shortfall for this year after meeting with Finance Minister Christos Staikouras and other government officials the week after the election. They did, however, maintain their reservations for next year, and everything will be on the table during their next visit to Athens in September, when the government intends to present seven moves plus one to extend its fiscal leeway.

The interventions being considered for next year are reducing the budget expenditure to more realistic levels, a spending review across the state...