Govt spokesman Tzanakopoulos: Third review conclusion to be allowed by Eurogroup

The Eurogroup is expected to give a “green light” for the conclusion of the third programme review, so that the final phase of the negotiations to exit the programme and the memorandum can formally begin, government spokesman Dimitris Tzanakopoulos said on Monday during a press briefing.

The Eurogroup meeting is expected to start at 16:00 (Athens time), he added.

Tzanakopoulos said that the Eurogroup Working Group’s (EWG) proposal is for Greece to receive a loan tranche of 6.7 billion euros, of which 5.7 billion euros will be disbursed by mid-February upon the technical completion of prior actions, without the need for a further Eurogroup meeting.

More specifically:

– 3.3 billion euros will cover the Greek government’s debt obligations up until the end of June.

– 1.9 billion euros is intended to reinforce the cash buffer.

– 0.5 billion euros will be the first of two installments to repay state arrears to the private sector.

– The remaining 1 billion euros will be disbursed in mid-April. Therefore, the only condition agreed for the disbursement of the second sub-tranche of one billion euros is the clearance of an equivalent amount of debt arrears by that date.

Source ANA-MPA
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