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ESM Dispenses 7.7 Bln Bailout Tranche to Greece

The European Stability Mechanism (ESM) announced the actual disbursement of the next loan tranche to Greece which took place on Monday, as scheduled. #ESM executed 1st disbursement of €7.7 bn under the 3rd tranche, money arrived in #Greece, press release...

ESM Approves 8.5Bln Euro Tranche to Greece

The Board of Directors of the European Stability Mechanism (ESM) today approved the third tranche of €8.5 billion of ESM financial assistance to Greece. This follows the approval of the Supplemental Memorandum of Understanding by the ESM Board of Governors...

German MPs Consider 4th Greek Bailout

Germany's Christian Democratic Union (CDU), headed by German Chancellor Angela Merkel, has once again raised the issue of the International Monetary Fund's (IMF) participation in the running program of aid towards Greece. The CDU party believes that the IMF's...

Parliament Approves Transfer of 5% Stake in OTE to Privatization Agency

Parliament has approved an amendment which transfers five percent of the State’s share in telecom company OTE to the country’s privatization agency, a prior action required for the disbursement of the final sub-tranche of Greece’s loan. The amendment was included...

Eurogroup Approves 15 Milestones and Unlocks Half of Bailout Tranche for Greece

The Eurogroup welcomed the implementation of the 15 milestones set for Greece in the context of the first review of the European Stability Mechanism's program, however, this did not result in the unlocking of the full 2.8-billion-euro tranche benchmarked...

Eurogroup Set to Release 2.8-Bln-Euro Tranche Disbursement for Greece on Monday

The Eurogroup of Eurozone finance ministers are likely to approve the disbursement of a 2.8-bln-euro tranche on loans benchmarked for Greece during their next meeting in Luxembourg on Monday. Two high-ranking Eurozone officials indicated on Friday that the release...

Min Katrougalos Aims to 'Isolate' IMF's Influence on Pension and Labor

On Thursday Labor and Social Insurance Minister Giorgos Katrougalos said that he seeks to "isolate" the International Monetary Fund (IMF) and its influence on pension and labor issues in Greece. As Greece is anxiously awaiting release of 2.8 billion euros...

Greek MPs Vote in Favor of Omnibus Bill on Privatizations

Greek Lawmakers voted in favor of the omnibus bill of prior actions on Tuesday that were passed by relevant parliamentary committees the day earlier. After a heated debate, 293 MPs voted on the law with 152 in favor and 141 against the omnibus...

Government Officials and Creditors Agree on Composition of New Privatization Fund

According to sources, creditors and Greek officials have reached an agreement regarding the composition of a new privatization fund. Reaching an agreement regarding the fund is a crucial element and condition in releasing the next loan tranche worth some 2.8 billions...

Eurogroup Chief Confirms Greece Has Met Prior Actions for Loan Tranche

Eurogroup chief Jeroen Dijsselbloem confirmed that Greece has met all the prior actions that will allow the disbursement of a 7.5 billion euro loan tranche, upon his arrival at a European Stability Mechanism (ESM) board of governors meeting in...