Greek govt given additional 24hrs for the completion of prior actions

European Commissioner for Economic and Financial Affairs, Pierre Moscovici estimated the disbursement of the 10.3 billion total installment to Greece would happen on June 16 at the regular Eurogroup meeting.

The debt deal lifts uncertaintly and creates the conditions for Greece to return to the markets, noted Prime Minister Alexis Tsipras, at the innauguration of the “Poseidonia 2016” fair last night.

Several issues were just a few details from completion on Monday, including the signing of a memorandum of understanding between Greece’s privatization agency, TAIPED, and a consortium of Greek, Chinese and Arab companies that has secured a lease for the site of the capital’s former airport at Elliniko.

Another action that creditors are awaiting is the transfer of a 5 percent stake in OTE telecom to TAIPED.

On his part, Moscovici made it clear that progress would be achieved only if the Greek program was fully implemented. ‘I have confidence in the Greek authorities’, said Moscovici. On the issue of a haircut to the Greek debt Moscovici categorically ruled out a nominal debt relief, adding that the Commission’s goal was to help Greece return to the markets. ‘A Grexit is no longer on the table. There is no way of an exit. We ascertained that Greece is making reforms. What we must ensure these reforms are implemented’, he stressed.