EWG Gives the Green Light for the Disbursement of 7.5 Bln Euros for Greece

EWG

The Euro Working Group’s meeting in Helsinki, Finland, on Thursday focused on ironing out the details of the program review for Greece. Technocrats of the Euro Working Group came to a positive conclusion, paving the way for the release of 7.5 billion euros for Greece.

The Greek government estimates that the installment will be disbursed by June 20 following the talks in Helsinki that were  held in a positive climate after a revised compatibility report by the European Commission. Earlier, EU Economic and Financial Affairs Commissioner Pierre Moscovici said he was confident that the next Eurogroup will decide to disburse the first installment of a loan tranche to Greece, amounting to 7.5 billion euros.

The setback after the German Bundestag’s rejection of a tranche disbursement until the remainder of prior actions are taken.

Speaking in Brussels on Thursday, Greek Finance Minister Euclid Tsakalotos said that social responsibility should be shown when imposing reforms.