BUSINESS

Greece has until March 11 to implement prior actions, EWG says

ELENI VARVITSIOTIS

TAGS: Economy, EU

Greece has until the Eurogroup meeting of eurozone finance ministers on March 11 to complete all of the pending prior actions it needs to secure the disbursement of 1-billion-euro from creditors, the Euro Working Group decided in Brussels on Friday.

If Greece fails to implement the measures demanded by then, the decision on the next tranche will be deferred to April, the EWG said after hearing representatives of the lenders on Greece's second post-bailout review, which was presented on Friday morning.

Lenders have yet to agree with the government's plans for protecting the primary residence of debtors from foreclosure and are also seeking a new tender for the sale of the state-owned Public Power Corporation's lignite mines, among other measures that are still pending. 

The German and Dutch representatives, moreover, suggested that the disbursement should be put off even longer in order to ensure that Greece is sticking to its commitments.

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