Eurogroup sees positive Greek reforms
A Eurogroup meeting on Wednesday gave a green light to the transfer of SMP-ANFA income equivalent amounts and the reduction to zero of the step-up interest margin on certain loans to Greece worth 767 million euros in total.
According to sources, the Greek government also managed to secure approval of its request that post-bailout Eurozone profits from Greek bonds are used to boost investment in the country, instead of debt repayment. Details of how this scheme will work will be discussed between Athens and its international creditor institutions in coming months.
Eurogroup president Mario Centeno said Greece was on the Eurogroup agenda “for good reasons” as the reports of the European Commission on the implementation of reforms by the country is “quite positive”.
“All participants at the Eurogroup acknowledged the good course of the economy, the progress, the filling of the gaps and the coverage of the pledges the previous government had left pending, and the positive momentum; the disbursement of the second package of measures for the easing of the Greek debt amounting to 767 million euros was also decided,” Finance Minister Christos Staikouras said.
You may be interested
Greece is a “flawed democracy”, Economist EIU report saysPanos - Jan 23, 2020
Greece is among the “flawed democracies”, according to the Economist Intelligence Unit (EIU) white paper released annually since 2006. Greece…
Pirates release captured crew-members of Greek tanker ‘Happy Lady’Panos - Jan 23, 2020
The eight crew-members of the Greek-flagged tanker "Happy Lady", among them five Greek nationals, that had been taken by pirates…