International Monetary Fund

The government intends to submit a series of legislative amendments during the Parliament's summer sessions in a bid to cultivate its narrative that it will have more scope to ease the burden of austerity once Greece exits the bailout next month. 

The International Monetary Fund on Thursday issued a clear warning to the Greek government against its plans to reintroduce collective labor negotiations, saying that such a move would put the competitiveness of the Greek economy at risk.

Tanjug is reporting that this was announced by the National Bank of Serbia (NBS).

Backed by the Policy Coordination Instrument (PCI), the new program of cooperation will build on the precautionary standby arrangement successfully completed by Serbia in February this year, the NBS is quoted as saying.

Turkey knows that the door to Europe has closed for good as far as it is concerned. The political situation in the European Union leaves no room for such illusions and has hastened the "moment of truth" many were waiting for. Recep Tayyip Erdogan's domestic policies are not making the situation any easier, of course.

The International Monetary Fund is conducting an analysis of Bosnia's increased public spending and whether it will affect the agreement that the country has with the IMF.

It is expected to set up meetings with Bosnian officials once the analysis is complete. Regional TV station N1 reported that the meetings might be held next week.

The German parliament has approved a debt relief package for Greece that is meant to help wean the country off its rescue loans as its eight-year bailout program comes to a close.

Lawmakers in Berlin voted 410-226 on Friday to support the package, which Greece's European creditors and the International Monetary Fund agreed on last week. There were seven abstentions.

Christine Lagarde, Managing Director of the International Monetary Fund, commended Greece and its European partners for completing the country's final bailout review and but expressed reservations about the long-term outlook for the country's debt.

Below is the full statement by Lagarde:

A senior European Union official on Tuesday expressed optimism that a Eurogroup meeting on Thursday will reach a comprehensive agreement on the completion of Greece's fourth program review, debt relief and post-bailout supervision.

Greece will likely get up to 15 billion euros for stabilization after its third bailout program ends in August so it does not have to borrow from the market, a senior German government official said on Tuesday.

The money will be taken from unused funds made available in Greece's bailout, the official said.

The possibility of a comprehensive agreement at Thursday's Eurogroup is in the hands of Greece's creditors, and especially of Germany, as Greece is fulfilling the last few milestones needed to wrap up the fourth bailout review, which are mainly of a technical nature.