On Feb 20, the Eurogroup came to an agreement with Greece on a way to allow Greece access to further bailout funding.  The agreement with Greece consisted of 3 main elements: (1) Greece would come up with a set of budgetary measures that would allow a successful review by the institutions, (2) Greece would then implement these measures & (3) The institutions would disburse funding to Greece as successful implementation progressed.  With this deal in place, it briefly seemed as if things would quiet down, at least for a few months.  Unfortunately, a sticking point has already emerged, highlighted at yesterday's Europgroup meeting.  That sticking point is due to the very slow progress on meeting any elements of the Feb deal.  The institutions are now going to take a larger role in formulating the measures Greece must undertake.  The first meeting between Greece & the institutions is due tomorrow.  If these meetings can produce measures that are acceptable to both sides, that will be a first step.  In order for Greece to access further funding, it will have to take the 2nd step & start to implement the agreed measures.  With time running out, both sides should be willing to expedite this process.   Recent events have shown, however, that each step forward in the process happens at the last possible moment.