Tagged: EWG

EWG to discuss impact of Christmas bonus on Greek program

The Euro Working Group (EWG) is to meet Tuesday to discuss the impact on the Greek program of the SYRIZA-led government’s decision to grant a one-off supplement to pensioners, local media reported Monday. The European Stability Mechanism reacted to the measure by suspending for the time being the implementation of the short-term debt relief measures […]

EWG greenlights disbursement of remaining 1.7 billion euros

The Euro Working Group has approved the payment of the second tranche installment (worth 1.7 billion euros) following the completion of the first bailout program review. Disbursement of the tranche confirms that the government has achieved its goals. The 2.8 billion euro of the first review was initially split into two installments as there were […]

“In the nick of time” for the release of the 2,8 billion Euros

The EuroWorking Group has directly focused on Athens’ recent progress to implement 15 “prior actions” demanded by institutional creditors, during a meeting in the Belgian capital later on Thursday. Implementing the “prior actions” is viewed as a necessary condition for freeing up a 2.8-billion-euro sub-tranche of bailout loans to the Greek state, money left over […]

EWG to focus on Athens’ implementation of ‘prior actions’; Greek side confident of next bailout tranche

The EuroWorking Group will directly focus on Athens’ recent progress to implement 15 “prior actions” demanded by institutional creditors, during a meeting in the Belgian capital later on Thursday. Implementing the “prior actions” is viewed as a necessary condition for freeing up a 2.8-billion-euro sub-tranche of bailout loans to the Greek state, money left over […]

Extraordinary EWG on Monday for Greek bailout review

An extraordinary Euro Working Group meeting has been announced for Monday 6 June, in order to confirm the completion of the first bailout review. Following the EWG meeting, the necessary procedures will begin so that the European Stability Mechanism may begin paying out the 7.5 billion euros to Greece. Specifically, the ESM will distribute the […]

EWG to debate debt, taxes and fiscal adjustment mechanism

The Alternate Minister of Finance Giorgos Houliarakis will attend Thursday’s Euro Working Group meeting, ahead of the critical Eurogroup meeting scheduled for 24 May. Thursday’s agenda will include Greek debt relief and taxation, as well as the critical automatic fiscal adjustment mechanism to which the Greek government has agreed to, rather than introducing contingency measures. […]

EWG to debate debt, taxes and fiscal adjustment mechanism

The Alternate Minister of Finance Giorgos Houliarakis will attend Thursday’s Euro Working Group meeting, ahead of the critical Eurogroup meeting scheduled for 24 May. Thursday’s agenda will include Greek debt relief and taxation, as well as the critical automatic fiscal adjustment mechanism to which the Greek government has agreed to, rather than introducing contingency measures. […]

Athens seeks swift deal with creditors, as funding hinges on review, debt talks

Labor Minister Giorgos Katrougalos and Finance Minister Euclid Tsakalotos resumed negotiations with representatives of the quartet of the country’s creditors over the weekend, as Greece is in a race against time to wrap up the review, paving the way to debt relief talks and the unlocking of the first tranche of bailout funding. European officials […]

Emergency Euro Working Group teleconference

The progress of negotiations and the distance between the Greek government and its creditors will be on the agenda of an emergency Euro Working Group teleconference, scheduled for Friday. Sources indicate the Alternate Minister of Finance Giorgos Houliarakis, the European Commission’s Declan Costello, the European Central Bank’s Rasmus Refer, the European Stability Mechanism’s Nicola Giammarioli […]

EWG to indicated when mission chiefs may return to Greece

Officials at the Euro Working Group meeting due to take place in Brussels on Monday are expected to decide whether the top representatives of Greece’s lenders should return to Athens. Technical teams from the institutions have been in the Greek capital since last week but differences remain between Greece and its lenders, as well as […]

ESM convenes to discuss payment of €2bn tranche to Greece

The head of the Eurogroup Jeroen Dijsselbloem reported that the Euro Working Group has agreed that Greece has implemented the first package of prior actions, thus paving the way for the 2-billion-euro tranche to be paid out by the European Stability Mechanism. The European Stability Mechanism has also announced that it will convene on Monday […]

Eurogroup Working Group conference call underway

A Eurogroup Working Group (EWG) conference call to discuss Greece is currently underway, a well-informed source said on Sunday. The Eurozone official told the ANA-MPA that there was no agreement at present between Greek authorities and the representatives of the institutions but did not rule out the prospect before Monday’s Eurogroup. The EWG is reviewing […]

EWG disapproves 2-bln-euro tranche without private school VAT

Greece has not fulfilled its list of prior actions to deserve the 2-bln-euros benchmarked for the country but there may be a release of funds at the Eurogroup meeting on November 9 The Greek government did all it could to end open fronts with its creditors by submitted an omnibus bill of laws to be […]

EWG decides on whether 2-bln will be disbursed to Greece

The government maintains that it has already covered 90% of the prior actions that European officials demanded, however EU creditors doubt that Greece has voted through even half of its pledges. The embattled government is continuing negotiations with creditors. At risk are more foreclosures (as eyed by creditors), VAT to private education (as considered by […]

Govt seeks to pass through draft bills using fast-track procedures

European Commission Vice President Valdis Dombrovskis left Greece with an ultimatum during his two-day visit to Greece on Thursday and Friday. He made it clear that prior actions need to be completed before the recapitalisation of banks can take place. Bearing in mind that Greece, according to EU officials, has yet to complete a third […]