As part of the deal, the Greek government committed to drawing up a first proposal for de-politicising Greek administration under the guidance of the EU Commission by Monday next and agreed it would seek Greek parliament approval of the Code of Civil Procedure (overhaul of the civil justice system) as well as transposition of the Bank Resolution and Recovery Directive (BRRD) by Wednesday 22 July.
As a result, drafting the new programme is likely to prove more problematic and lengthier than hoped by EU leaders.
According to Societe Generale, the IMF's financial involvement is questionable, given:
- Its already high exposure to Greece
- he IMF's view that Greek debt is unsustainable.
