Key bailout monitors set to change
BRUSSELS – A change of guard is in the cards for some of the key representatives of Greece’s international creditors, with new bailout monitors expected to assume their posts in the fall.
A key switch is expected in September when the European Commission representative to Greece, Irishman Declan Costello, is likely to leave his post, opening the way for a replacement from Portugal.
Joao Nogueira Martins had an active role during the implementation of the first bailout program for Greece, which was extended to the country in 2010.
The anticipated takeover by Martins is expected to be a positive development for Greece, as he already has good insights into the country’s social and economic reality. Martins had displayed genuine concern for the success of the program and the country’s exit from foreign supervision, sources say.
Another likely departure is that of the head of the Euro Working Group, Thomas Wieser, who is set to retire early next year.
With the possibility of a new Dutch government at the end of August, it is also likely that the current head of the Eurogroup, Dutch Finance Minister Jeroen Dijsselbloem, will also be replaced.
Declan Costello will soon cease to be the European Commission’s envoy for Greece.