EuroGroup: Bad news for Greece, as final tranche delayed until August

13 July 2018
220 Views

Despite the optimism expressed in recent days in Athens and Brussels that Thursday’s Eurogroup meeting would be the most mundane and indifferent to date, and a mere formality, the outcome hid a negative surprise, as the disbursement of the final tranche of 15 billion euros to Greece was blocked and postponed until August.

As Eurogroup President Mario Centeno said on Thursday, following the end of the Eurogroup meeting in Brussels during a joint press conference, the tranche will be disbursed to Greece in August

At a press conference given jointly by Centeno, ESM director Klaus Regling and European Finance Commissioner Pierre Moscovici, the Eurogroup president said the member-states approved the tranche disbursement but the final decision will be made once national processes are completed in Germany: “I expect it at the beginning of August,” he said.

Regling said this is the last joint press conference with the other two men while Greece is still in an adjustment program, which ends on August 20 as he noted.

Greece is on the way to normalcy, he said, and the last tranche will be disbursed when the last national parliament’s approval is completed, Moscovici said, calling for patience.

You may be interested

Syriza MPs attacked during the 17th November Polytechnic celebrations (video)
GREECE
shares47 views
GREECE
shares47 views

Syriza MPs attacked during the 17th November Polytechnic celebrations (video)

makis - Nov 16, 2018

A delegation of SYRIZA MPs that went to lay a wreath in honour of the “17th November Polytechnic” celebration was…

Greek Church Hierarchy rejects Tsipras-Ieronymos plan on clergy payment regime
GREECE
shares39 views
GREECE
shares39 views

Greek Church Hierarchy rejects Tsipras-Ieronymos plan on clergy payment regime

makis - Nov 16, 2018

The prelacy of the Greek Orthodox Church rejected the draft agreement between Greek PM Alexis Tsipras and Archbishop of Athens…

Gavdos, an island at the end of the Continent
GREECE
shares565 views
GREECE
shares565 views

Gavdos, an island at the end of the Continent

Panos - Nov 16, 2018

Described by Homer as the place where Odysseus shipwrecked on his way back from Troy, Gavdos is a remote island…

Leave a Comment

Your email address will not be published.