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GreekReporter.comGreek NewsEconomyGreece Close to Completing Prerequisites for €2.8 Bln Loan Tranche

Greece Close to Completing Prerequisites for €2.8 Bln Loan Tranche

sunedriazei-ektaktws-to-euro-working-group-w_hrGreece is expected to complete the prerequisites for the second bailout program review within the next week, said creditors’ representatives on Thursday’s Euroworking Group, according to a Kathimerini newspaper report.
If all goes well, the October 10 Eurogroup will give the “green light” for the disbursement of the 2.8 billion euros loan tranche.
There are still some outstanding issues that need to be resolved and several prerequisites that need to be completed. Specifically, the measures for the pollutants emission reduction fee (ETMEAR) and the reform of the renewable energy sources market. According to the report, the only detail remaining is a signature by Energy Minister Panos Skourletis.
The second prerequisite that still remains open is the separation of the Civil Aviation Authority from the air navigation service provider. The report quotes a European official saying that the issue is complicated, but it “can be done within a few days.”
Creditors also expect the final data on the status of payment of arrears by the state. The Greek side must prove that it has absorbed 80% of the 1.8 billion euros given in June for this very purpose, so as to give 1.2 billion from the 2.8-billion-euro tranche expected, earmarked for repaying arrears in the private sector.
The Greek government on Wednesday presented creditors with the omnibus bill that includes all prerequisites. The bill must be translated in English for creditors to examine it and decide whether they will approve it or not. However, the report says there are only five days left for Greece to complete prerequisites so that the Euroworking Group can complete its report on time for the Eurogroup.
 

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