“I am fully aware of the opinion polls and I know in detail what Greeks are going through,” he said. “But after the completion of the PSI [private sector involvement] deal, a big window of opportunity has opened to win back some lost ground and to rebuild our pride, as citizens of Europe, not pariahs in the eurozone.” Monday’s Eurogroup meeting should result in the new 130-billion-euro bailout for Greece being approved as Athens agreed with most of its private bondholders on Friday a debt restructuring scheme that will reduce Greek debt by about 100 billion euros. However, the schedule still remains tight for the government over the next few weeks as it has to begin recapitalizing the country’s banks and implementing some of the reforms it has agreed with its lenders.
A team of European Commission, European Central Bank and International Monetary Fund officials are due in Athens this week to check on the government’s progress and to draw up the 2013-16 plan. The head of the EU Task Force for Greece, Horst Reichenbach, is also coming to Athens on Monday to deliver a progress report.