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Greece to Legislate New Measures to Receive €2 Bln in Financial Aid by Monday

Europe-Greece-Flags-AthensGreece must legislate the new measures agreed by the end of the week in order to receive a subtranche of 2 billion euros in financial aid on Monday.
The Euro Working Group and the European Stability Mechanism will assess the progress of the bailout program. Since Greece has agreed and is about to legislate the 48 prior actions required, most likely the green light will be given for the disbursement of the funds.
Likewise, sources from Brussels say that Greek bank recapitalization is scheduled to be completed by the deadline, which is the end of 2015. Next week also marks the beginning of the first review of the progress of the bailout program. Greece is not only obligated to legislate the required measures, but also to put them in practice.
On Monday, the finance ministers of 16 Eurozone countries will discuss the budget of each country and the funds that can be allocated by each in order to fight the Islamic State in light of Friday’s terrorist attacks in Paris. Contributions will be determined according to the means of member states.
Greece and Cyprus are excluded since both countries are on a bailout program. However, if Greece contributes financially to the war against terrorism,” the budget obligations dictated by the bailout program might be viewed more leniently by creditors.

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