EWG teleconference called off; 10 out of 140 prior actions remaining to conclude Greek program

A Euro Working Group teleconference previously scheduled for Wednesday was called off on account of 10 out of 140 “prior actions” – which Athens must implement in order to conclude a second review of the Greek bailout – are still pending.

Reports out of Brussels, however, referred to extremely mild reactions, given that only a few steps remain for the conclusion of the second review. The latter would unblock a total of roughly 10 billion euros in bailout loans flowing into Greek coffers over the rest of 2017, and ahead of approximately seven billion euros in loans maturities up for repayment in July.

Euro zone countries’ representatives will meet in person on Thursday for the regular EWG meeting, which is set to prepare the groundwork of the June 15 Eurogroup meeting – the latest “unofficial deadline” in completing the review.