A pending sub-tranche of one billion euros, scheduled to be disbursed to Greece by the ESM, has been postponed, as the leftist-rightist coalition government failed to supply creditors with data showing that state arrears to the private sector have been sufficiently covered.
A pending sub-tranche of one billion euros, scheduled to be disbursed to Greece by the ESM, has been postponed, as the leftist-rightist coalition government failed to supply creditors with data showing that state arrears to the private sector have been sufficiently covered.
According to an ESM representative, the emergency fund's board of directors decide on the postponement, as covering the state's arrears was one of two primary conditions for the disbursement. A teleconference was later called for next week to decide the next steps over the issue, given that a deadline for releasing the low-interest loan is June 15, 2018 - a date repeatedly cited over the recent period.
Progress over implementing an e-auctions platform, on the other hand, was judged as satisfactory.
In a related development, exploiting unused credit left over from the third - and ongoing memorandum - will be broached with creditors. The left over credit is a noteworthy 27.4 billion euros.
According to reports by "N", the issue is on the negotiating table ahead of a crucial Eurogroup meeting on June 21 in Luxembourg - with all sides now working for a package agreement.