The Eurozone Reportedly Delays Disbursement of Needed Bailout Funds to Greece



Greek-European-FlagsRepresentatives of the Eurozone’s finance ministries were unable to officially approve the disbursement of two billion euros of bailout funds to Greece, as well as of the 10 billion euros for the country’s bank recapitalization, during a Euroworking Group meeting in Brussels on Friday.

Real.gr cites European officials who claim that while there was a broad approval of the Greek government’s efforts toward accomplishing the prior actions needed to receive funds, certain details need to be worked out.

The report notes that some of the attending representatives felt that Greece would be unable to fulfill one of the prior actions and noted they still need clarifications on three other prior actions.

The Greek government is expected to produce the necessary proposals during the weekend, so that the Euroworking Group can greenlight the disbursement before Monday’s Eurogroup.

The Greek parliament has legislated three sets of prior actions to garner its creditors’ approval for the provision of additional funds, since mid-October, the latest legislation having taken place on Wednesday.


2 COMMENTS

  1. it is quite clear 1) that the Tsipras coalition has no intention of implementing any meaningful change and 2) that the coalition is falling apart at the seams.

  2. Giving in to Greek business of passing lip service laws that will never be implemented just strengthens the German AfD. Nobody in their right mind can want that.
    The poor Easteners have similar mentality as described as ‘typically Greek’ in the German press.
    Keep the money transfers they have been getting forever and avoid adaptation to eeconomic realities at ALL cost. When they cannot pay their mortgage rates, they are evicted and the appartment is auctioned – at no mnimum price – at the second try.
    The thresholds now written in the new Greek law are huge by German standards.
    They may not be comparable against the backdrop of different state welfare but tell this to a German elderly couple who see their tworoooms auctioned off at a fraction of the price they paid in the first place.