Greek Finance Minister Yanis Varoufakis must face the music once more at a Eurogroup meeting of euro zone finance ministers.
An economic trend, like a battle plan, often doesn’t survive the first engagement. Data from euro zone countries has generally surprised on the upside since the turn of the year with Germany leading the way. German growth was robust in Q4, with domestic demand to the fore.
Germany’s parliament will vote today on the extension of Greece’s bailout by four months and will duly back it though we can expect some grumbling from a clutch of lawmakers.
Greece sent an economic reform plan to its EU and IMF creditors overnight, according to an EU source, and euro zone finance ministers will this morning see the list which is a condition for extending the country’s bailout programme by four months.
The Greek standoff is coming to a head.
A day after euro zone finance ministers couldn’t “even agree to disagree” Greek Prime Minister Alexis Tsipras, attending his first EU summit, agreed that Greek officials would meet representatives of the European Commission, the European Central Bank and the IMF today.