No decision on Greek tranche disbursement at EWG

The Euro Working Group (EWG) ended on Monday night without a decision on the disbursement of almost 1-billion-euros from creditors, as there is still no agreement with the Greek government on its plan for protecting the primary residence of debtors from foreclosure.

The two sides need to reach an agreement before the next Eurogroup on April 5, otherwise the decision on the next tranche will be deferred for the third time – a development that would send the wrong signal to the markets.

European sources said late last week that a deal was unlikely at Monday’s EWG.

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