BUSINESS

Two pending prior actions likely to freeze release of loans

ELENI VARVITSIOTIS

TAGS: Economy, Diplomacy

Greek Finance Minister Euclid Tsakalotos arrived in Brussels for Monday's Eurogroup meeting with all but two of 110 prior actions complete, Kathimerini understands.

According to a compliance report seen by Kathimerini, Greek authorities have enforced 108 structural and economic reforms from a list of 110.

Nevertheless, as two of the actions are missing, it is expected that EU officials will not sign off on further rescue funding at the summit.

The two pending actions are related to electronic foreclosures which Greece's creditors are pushing particularly hard for in a bid to reduce the large proportion of non-performing loans that are weighing down Greek banks.

The report notes that it expects the two outstanding issues to be resolved in the next two weeks.

The report pointed to "gradual progress" by Greek authorities in the area of the electronic foreclosures, noting however that only a "limited" number of auctions have been carried out.

 

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