Creditors awaiting legislation of reforms to complete Greek review

16 November 2015
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Greece’s creditors are waiting for the Greek Parliament to legislate necessary reforms in order for the institutions to complete their review, enabling them to decide the disbursement of bailout loans, well-informed EU sources in Brussels said on Monday.

The same sources expressed satisfaction with the progress made in the talks and confirmed there was an agreement on the role of the Hellenic Financial Stability Fund (HFSF). They also confirmed that the positions of the Greek authorities and the creditors had come much closer on the issue of non-performing loans, predicting an agreement will be reached very soon.

On Tuesday’s meeting of the Eurogroup Working Group (EWG), the same sources said a positive evaluation of the progress in implementing the reforms was expected.

They repeated that the institutions can only complete their review after the legislation of the reforms, which the creditors expect within the week. They did not rule out a second EWG meeting, possibly next Thursday, in order to give the go-ahead for disbursing the sub-tranche of 2.0 billion euros linked to the first package of prior actions and the transfer of 10 billion euros to the HFSF for the recapitalisation of Greece’s banks.

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