Eurogroup: No disbursement of the 1 billion Euros installment for Greece

11 March 2019
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The disbursement of the 1 billion Euro installment to Greece has been postponed by the Eurogroup.

The lack of agreement on the “home protection framework”, which will succeed the known as “Katseli law”, was the main reason that led to this decision of the European finance ministers.

Despite the positive words of the Finance Ministers and Eurozone officials on Greece’s progress, it was clear from the beginning that Greece would not receive the money allocated to it from the profits of the SMP and ANFA bonds.

The first statement was made by European Commission Vice-President Valdis Dobrobowsky, who said that some progress was made last week, especially at the main point of disagreement, the successor to the “Katseli law”, but there is still no agreement on a positive decision on disbursement.

Pierre Moscovici’s statements were in a similar context saying that out of the 16 prerequisites, only three remain open and “significant progress” is being made to complete the most important issue, the new “Katseli law” and reach a decision for the disbursement “no later than the next Eurogroup”.

Eurogroup President Mario Senteno, from Portugal, said that progress has been made and that the next steps will be examined today.

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