In Thursday’s Euro Working Group Greece will present 3 less prior actions from the 15 that were agreed last summer. In order to clinch the release of another 2.8 billion euros in rescue loans from Greece’s creditors, the government must take a number of administrative actions in addition to the legislation approved on Tuesday. Those actions include appointing three members of a five-member supervisory board to the new fund. A representative of the European Commission on Tuesday confirmed that Brussels has endorsed the three officials proposed by Athens.
Meanwhile, the Managing Director of the European Stability Mechanism (ESM) Klaus Regling briefed Finance Minister Euclid Tsakalotos on the ongoing work concerning the short-term measures to provide debt relief to Greece, during a meeting in Luxembourg on Wednesday.
According to an ESM spokesperson, the European Commission will now examine whether the Greek government has completed the implementation of the prior actions and then decide on the disbursement of the 2.8-billion-euro sub-tranche.
A scheduled Eurogroup meeting on October 10 is expected to give the green light for the disbursement of the latest slice of funding from the country’s third bailout.