EU warns Greece about delays in prior actions

7 July 2016
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According to an EU official, Greece will have to speed up the implementation of the 16 prior actions to avoid the risk of delaying the timely release of the 2.8bln Euro tranche in September. Well-informed sources in the EU claim that the institutions have ascertained delays in the implementation of the prior actions on the part of the Greek state, something that could jeopardise the stability of the program and the funding of Greece by its creditors. The source made it clear that even though there was still time till September for the measures to be activated, the institutions had urged the government step up the pace. ‘There are already some delays’, said the source, stressing the need for the procedures to be expedited for a smooth disbursement of the next tranche. Meanwhile, the European Commission refused to comment on the information of delays during a press briefing, Wednesday. A possible delay in the release of the tranche would inevitably lead to a delay in the second review of the Greek program.

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