No EWG decision on 975-mln€ tranche to Greece due to delays over primary residence law

26 March 2019
505 Views

Monday’s Euroworking Group concluded without a decision to disburse a 975-million-euro tranche to Athens, a more-or-less expected development after Athens failed to unveil a draft of a successor law for protection – from creditors – of primary residences in the country.

The last framework expired at the end of February, with the Tsipras government merely saying, in its defense, that it has reached an agreement with the country’s four systemic banks and is continuing negotiations with European creditors.

The next date on the European calendar is April 5, when a regularly scheduled Eurogroup meeting will convene, with the issue of primary residences’ protection in Greece assuredly on the agenda.

The beleaguered Tsipras government and its supporters point to the April session as entailing a very “high probability” of success, i.e. the tabling of a successor law in agreement with creditors.

Most independent sources, however, cite objections by the ECB, with the Eurozone’s central bank saying the current proposal by Athens will not significantly reduce NPLs burdening systemic banks’ balance sheets, while also failing to deal with the problem of “strategic defaulters”.

Government sources had repeatedly leaked reports last week that the draft framework would be tabled in Parliament on Friday, something that was not forthcoming.

You may be interested

Accidental experiment solves Century-old Chemistry problem
WORLD
shares29 views
WORLD
shares29 views

Accidental experiment solves Century-old Chemistry problem

Panos - Feb 24, 2021

Researchers in Uppsala, Sweden accidentally left a chemistry experiment running over a long weekend. When they returned to the lab,…

ABTA: Greece among the five most popular destinations for 2021
GREECE
shares32 views
GREECE
shares32 views

ABTA: Greece among the five most popular destinations for 2021

Panos - Feb 24, 2021

Greece is among the top 5 most popular destinations for holidaymakers, according to booking trends by Travel Association ABTA. Travel Association…

Dreamy sunset in Mykonos Island in Greece (video)
GREECE
shares33 views
GREECE
shares33 views

Dreamy sunset in Mykonos Island in Greece (video)

Panos - Feb 24, 2021

Magic hour during sunset and dusk at Little Venice in Mykonos island, one of the most romantic places in the Mediterranean and…

Leave a Comment

Your email address will not be published.