Greek Finance Minister Euclid Tsakalotos met with European Stability Mechanism (ESM) Chief Klaus Regling in Luxembourg on Wednesday. The meeting, which focused on short-term and long-term measures for Greece, took place in a cordial climate.
Tsakalotos briefed Regling on the bill that Greek lawmakers passed on Tuesday. The bill includes measures for prior actions that Greece needs to put into place in order for its creditors to release the next bailout tranche installment at 2.8 billion euros. Among the key points of the multi-bill is the transfer of several state organizations into the portfolio of the controversial privatization fund, including the Public Power Corporation, the Athens and Thessaloniki water and sewerage companies (EYDAP and EYATH), the Hellenic Vehicle Industry (ELBO) and Attiko Metro.
Now that MPs have signed over these assets to the fund, they hope to receive 2.8 billion euros at the next Euroworking Group on Thursday and Eurogroup meeting on October 10. There are still outstanding issues that need to be covered before European finance ministers give the green light for the disbursement, however, these do not need further legislative action.
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