After Athens receives the 7.5-billion-euro bailout tranche and the European Central Bank starts giving Greek banks cheaper loans, the Greek government will be off the pressure for about two months.
In September, the second bailout program review is to take place. Until then, Athens will have to implement new measures and reforms that pertain to labor laws. The successful completion of the second bailout review will lead to the disbursement of a loan subtranche amounting to 2.8 billion euros.
This week, certain European parliaments are expected to give the “green light” for the release of bailout funds. After the disbursement of the 7.5 billion euros, expected around June 20, the Greek government will be able to fulfill loan obligations close to 5 billion euros, due through September.
Also, next week, the ECB is very likely to include Greece in the quantitative easing program. This means that the central bank can be accepting state bonds as collateral for cheap loans to Greek banks.
Now Greece’s finance and economy ministries can implement the development program they have been announcing. The government’s economy agenda will run parallel to the bailout program requirements, Maximos Mansion promises. To that effect, three new bills on economic reforms will be tabled in parliament within the next three weeks.
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