08:25 GMT +317 July 2019
Listen Live
    Greek national flags are displayed for sale at the entrance of a one Euro shop in Athens

    Greece Completes All Requirements for New Tranche – Eurogroup Head

    © REUTERS / Alkis Konstantinidis
    Business
    Get short URL
    Greece's Gordian Knot: Syriza Tackles Austerity (404)
    126

    The decision on the transfer of funds to Greece is expected to be made "later this week."

    BRUSSELS (Sputnik) — Greece has completed all the measures needed to receive a new tranche of bailout from its international creditors, Eurogroup head Jeroen Dijsselbloem told reporters on Thursday.

    "They seem to have done all the work on the prior actions, so I think there are four very small issued that will be dealt with later," Dijsselbloem said ahead of the Eurogroup meeting in Luxembourg, when asked whether Greece has completed all the necessary requirements.

    He noted that the decision on the transfer of funds to Greece will have to be made by the Board of Directors of the European Stability Mechanism (ESM). The Eurogroup head said that the decision would be made "later this week." ESM Managing Director Klaus Regling swiftly added that it would be made on Friday.

    Earlier this week, Regling said that the financial tranche for Greece could be approved at the Eurogroup meeting on Thursday.

    Greece's international creditors, the International Monetary Fund (IMF) and the European Central Bank (ECB) and some Eurozone nations, signed an agreement with Athens in 2015, approving a third bailout package in exchange for highly unpopular austerity reforms such as pension cuts and tax hikes as well as other changes to the Greek legislation.

    The new tranche of financial aid amounts to 10.3 billion euros ($11.7 billion). Its first part worth 7.5 billion euros is set to be disbursed in late June.

    Topic:
    Greece's Gordian Knot: Syriza Tackles Austerity (404)

    Related:

    Eurozone Finally Capitulates Over Greek Bailout, But Major Hurdles Remain
    Eurogroup Expected to Disburse Greece’s $11.5Bln Bailout in Two Tranches
    Top Economist Tells Sputnik Greek Creditors May Split Debts in Bailout Deal
    Greek PM Expects to Exit Bailout ‘Much Earlier’ Than August 2018 Expiration
    Tags:
    tranche, Eurogroup, Jeroen Dijsselbloem, Greece
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik