Following the conclusion of the Eurogroup meeting, its president Jeroen Dijsselbloem expressed his satisfaction for the completion by Greece of the six prior actions required for the disbursement of the 1-billion-euro loan tranche.
According to Dijsselbloem, Finance Minister Gikas Hardouvelis reassured the Eurogroup that the Greek government will implement by the beginning of August all the remaining six prior actions required for a further 1-billion-euro loan tranche disbursement.
He also mentioned that the technical mission of Greece ‘s troika of bailout lenders will be back in Athens this week, in order to assess the course of the Greek program. Dijsselbloem made clear that the fifth, and final, review of the Greek economy will officially begin after all prior actions set forth by the fourth review have been completed. “There is still work to do,” he stressed.
The Eurogroup president noted that countries that moved within the criteria of the pact had greater margins for flexibility. In reference to bad debts in Greece, he expressed the opinion that there are households and businesses which are actually able to repay their loans, “although there is no universal recipe.”
According to government sources, the government is set to push for the completion of the fifth review of the Greek economy by end of October, so as to pave the way for European decisions concerning the sustainability of the Greek debt.