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Brussels: 4th review on Greek programme must conclude by May

Featured Brussels: 4th review on Greek programme must conclude by May

A Eurozone official said in Brussels that 88 prior actions remained to be implemented by the Greek authorities before the 4th review could move forward. He added that the 4th review was agreed to be completed by May.

“A difficult but feasible timeframe,” the official noted, adding that achieving it within this time constraint would allow talks on scenarios to alleviate the Greek debt so that any relevant measures could be decided in June.
The debt issue will not be discussed at Monday’s Eurogroup meeting, but technical discussions will focus on the growth mechanism.
According to the same official, the release of the money to Greece following the successful 3rd review will take place in two instalments of € 5.7 billion and € 1 billion, adding, however, that both were dependent on the unhindered flow of the electronic auctions.
The loan tranche approved to Greece after the conclusion of the third review, following the positive assessment on March 2 by the EuroWorking Group regarding two pending prior actions, is currently at the stage of being ratified by the Eurozone national parliaments.

The European official underlined that no talks on a possible extension of the Greek programme beyond August had been made.