The EuroWorking Group (EWG) on Monday evening approved a recommendation towards the ESM for the disbursement of the entire 2.8-billion-euro sub-tranche in bailout loans to Greece -- a sum left over from the first review of the Greek program (third bailout) last spring.
By N. Bellos
The EuroWorking Group (EWG) on Monday evening approved a recommendation towards the ESM for the disbursement of the entire 2.8-billion-euro sub-tranche in bailout loans to Greece -- a sum left over from the first review of the Greek program (third bailout) last spring.
The official but essentially rubber-stamp decision, therefore, will come at Tuesday’s European Stability Mechanism (ESM) board meeting, which will be convened under the chairmanship of its managing director, Klaus Regling.
In approving the disbursement, the EWG confirmed that the Greek government fulfilled 15 “milestones” – or prior actions -- also left over from the spring review. The last milestone was proof by Athens that it paid off a portion of arrears to private sector suppliers and contractors last month.
Previously, the Eurogroup had approved a disbursement of 1.1-billion euros of the 2.8 billion euro sub-tranche, pending the tabling of the September data showing payment of the arrears.