EuroWorking group today in Helsinki
- Written by E.Tsiliopoulos
The EuroWorking Group convenes today in order to give its approval that all prior actions have been completed, so as for the Parliaments in the Eurozone to ratify the disbursement of the next bailout tranche to Greece, worth 7.5 billion euros during the next Eurogroup meeting on June 16th.
After the Euro Working Group gives the initial green light, and a series of eurozone parliaments approve the motion, the European Stability Mechanism’s managing board will convene to give the final word on the release of the cash which Greece needs to pay down debt maturing in July.
That meeting is scheduled for June 16, meaning Greece will most likely receive the money well before the British referendum, a sensitive issue for eurozone officials as the outcome could spur further upheaval in the bloc.
The budget committee of the Bundestag convened on Wednesday and Germany’s parliament was expected to be among the first to approve the motion.
A statement by the parliamentary representative of the CDU/CSU political alliance, Eckhardt Rehberg, made it clear that Berlin was determined to ensure that Greece has honored all its commitments before any aid is released.
“We did not release the next tranche today because a small portion of measures agreed to by the Greek government have yet to be enforced,” he said.
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