Athens is likely to meet tranche conditions in time

TAGS: EU, Economy

Greece is likely to meet by next week the conditions for the release of a 2.8-billion-euro loan from the eurozone, concluding a first phase of an aid and reform plan agreed with international lenders, senior eurozone officials said on Friday.

“We are not quite there yet, there are some actions still outstanding, but the Greek authorities are extremely firm they will finalize them by Wednesday next week,” one senior eurozone official said.

This would leave enough time for eurozone ministers meeting on October 10 in Luxembourg to agree on the disbursement.

For the funds to be released, the European Commission, the European Central Bank, the eurozone bailout fund and the International Monetary Fund will have to prepare a report before the finance ministers’ meeting on Greece’s compliance with the agreed reform program.

“My expectation is that a disbursement would be politically authorized,” the senior official said.

A second eurozone official voiced the same conviction.