The members of the Eurogroup Working Group have given the ‘green light’ for a massive €6.3 billion installment of Greece’s bailout package during their meeting in Brussels Thursday noon, providing some of the first positive feedback in view of the upcoming May 5 Eurogroup meeting.
During their meeting, Eurogroup members are also expected to address Greece’s debt relief as promised by the EU partners, following Wednesday’s confirmation by Eurostat on Greece’s primary surplus.
Greek Finance Minister Yannis Stournaras, however, announced that the Greek side is expected to keep a low profile, as a promising announcement doesn’t automatically pave the way for achieving a comprehensive settlement of the Greek debt.
High-ranking officials within the Greek Finance Ministry keep in mind that the European Union is currently going through a campaign period, while acknowledging that any talks will reach their peak after the EU elections, with a possible solution being announced late autumn.
In the next days, the board of the European Financial Stability Facility (EFSF) is also expected to confirm the installment, with the amount eventually being paid out to Greece within April. In May, the International Monetary Fund is scheduled to also approve two installments totaling around €3.6 billion.
Meanwhile, the government’s financial team is in the final phase of putting through the twelve pre-required measures, which will open the road for June’s and July’s installments of around €1 billion each.
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