EuroGroup: Approval of 3rd review and release of tranche to Greece expected in Brussels
Eurozone Finance Ministers are expected to approve the release of a 6-7 billion euro bailout tranche to Greece during the EuroGropup meeting in Brussels, Monday. The cash will most likely be disbursed in two sub-tranches a couple of weeks into the next month. The Mario Centeno, the Portuguese Finance Minister will take up his post as the body’s new President for the first time. The EuroWorking Group, a precursory body to the EuroGroup had given the green light in principle last Friday for the bailout cash to Greece and the closing of the 3rd review, after finding the country had implemented the majority of the prior actions.
If the Eurogroup does approve the completion of the third review, ratification proceedings of will commence in a number of European parliaments and finally the disbursement of the European Stability Mechanism (ESM) so that the first sub-tranche is released in the second half of February.
You may be interested
Coronavirus Greece: Four new cases, one fatality & 18 intubatedmakis - May 25, 2020
Professor Sotiris Tsiodras announced four new cases of the coronavirus in our country in the last 24 hours. The total…
Berlin Church opens to Muslims for prayerPanos - May 25, 2020
A church in Berlin has opened its doors to Muslim worshippers unable to fit into their mosque under new social…
Cafes, restaurants reopening with strict safety rulesPanos - May 25, 2020
Greece’s cafes and restaurants are reopening for business on Monday following a long hiatus, as they closed just over two…