Heads of "Quadriga" want more "prior actions"

Negotiations began yesterday between Greek officials, technical teams and working groups, at the General Accounting Office. All sides have agreed that the agreement needs to be concluded as soon as possible.The technical staff is expected to have their work completed by Friday with little likelihood of a follow up over the weekend. Three of the heads of the institutions are already in Athens: European Commission's Declan Costello, ECB's Rasmus Rueffer, ESM's Nicola Giammarioli with IMF's Delia Velculescu, expected to arrive tomorrow.

However reports say the representatives of the institutions will insist that the Greek government votes yet another package of prerequisite measures before the final agreement with the creditors is reached. This could prove highly problematic for Prime Minister Alexis Tsipras who wants the second package of front loaded legislation known as prior actions that was voted in the early hours of July 23 to be the last test for his government before a final deal.

However, it looks like the heads of the institutions will push for another round. The request is said to come from German Finance minister Wolfgang Schaeuble and other eurozone ministers like those from the Baltic countries, Austria, Slovakia and Slovenia who want Greece to vote more prior actions to cover the lost ground of credibility.