3 'prior actions' remain for 2.8 bln€ tranche of bailout loans to be disbursed in Oct.

By N. Bellos

All eyes are now on a Εurogroup meeting on Oct. 10 for the final “green light” to disburse 2.8 billion euros of a bailout sub-tranche to Greece.

With the outlay, the last details from the first review of the Greek program (third bailout) will have been resolved, allowing for the official commencement of negotiations for the second review – with deadlines looming in October 2016.

What also follows is a pending IMF study on the sustainability of the Greek debt, which will significantly affect the Fund’s decision on whether it will remain as one of the Greek state’s institutional creditors.

During a EWG meeting this week in Brussels, the leftist Greek government requested an additional five days in which to resolve three remaining “prior actions” left over from the first review. It was granted the extra time.

On Friday a top Eurozone official in Brussels expressed his confidence that the Greek government will have implemented by the three remaining “prior actions” by Wednesday.

The EWG of representatives will then issue a report to inform Eurozone finance ministers of the successful implementation of all the actions.

An omnibus draft bill with a dozen “prior actions” was submitted in Parliament last week and ratified by a majority of MPs belonging to the government coalition.

What remains and what the Tsipras government must complete are:

• Implementation of a framework for the reorganization of the Civil Aviation Authority
• A change in legislation governing the Special Duty of Greenhouse Gas Emissions Reduction (ETMEAR)  
• Confirmation on the part of the government that it used at least 80 percent of the last bailout tranche to pay off state debts to third parties in the private sector for goods and services it procured