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The approval of the outstanding reforms, mainly concerning Greek
fiscal targets, the labor market and liberalization of the
energy sector, would pave the way for further euro zone loans to
Athens, which faces large repayments in the third quarter.
Finance ministers of the 19 countries of the euro zone will meet
on Thursday in Brussels but there hasn't been sufficient
progress in Greek reforms yet for them to sign off on a deal
now, the senior official said, confirming what the EU economics
commissioner Pierre Moscovici said on Tuesday.
Still, the ministers are likely to produce an agreement to
continue talks with a view to concluding them at the next
Eurogroup meeting on Feb. 20, according to the official.
"There is a good chance" that an agreement will be reached on
Thursday to send euro zone negotiators back to Athens so that a
deal can be reached in February, the official said.
"February is the last month in which there is no politically
significant election in relevant member states," the official
said, and this meant "February is not formally but realistically
the time when we need to reach a political agreement".
The Netherlands go to the polls in March, and the French will
vote in presidential elections in April and likely also in May.
Germany, the biggest economy in the euro zone, will hold a
general election in September.
A comprehensive deal for Greece will also have to involve the
International Monetary Fund, the official said.
There was no formal timeline for the IMF to make a decision
about its participation to the bailout program, the official
said but added that the decision could not be prolonged
indefinitely. The bailout program, now carried only by the euro
zone, ends in mid-2018.
(Reporting by Francesco Guarascio and; Jan Strupczewski; editing
by Mark Heinrich)
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