The Eurogroup was concluded on Monday without a decision for the disbursement of the one billion euro loan tranche. The climate was positive while the institutions agreed that all the commitments will have been met by the Eurogroup on March 25 to give the green light for the disbursement of the loan at the Eurogroup on April 5 in Bucharest.
The only outstanding issue in the negotiations is the reform of the Katselis law on the protection of primary residence, which is expected to have been completed by March 25. An agreement on the main pillars has already been reached, but the final details need to be determined. However, all sides decided that the procedure must have been completed by the next Euro Working Group on March 25.
According to Eurogroup representatives, “At today’s Eurogroup meeting, during the debate on the 2nd European Commission report on Greece in the context of post-memorandum surveillance, significant progress has been made in the implementation of the actions undertaken by the Greek government, while the positive momentum in the country’s reform effort has been maintained.”
The agreement between the government and the partners on the law for the protection of primary residence will give the green light for the disbursement of 970 million euros from the profits of Greek bonds held by the European Central Bank (ECB) and national European banks (ANFAs and SMPs). Despite current extension of negotiations about the protection of primary residence, a mutually acceptable framework is expected to originate from Finance Ministry deliberations with Eurogroup delegates in the coming days.