ECONOMY

Dijsselbloem warns Greece it needs to speed up elements of program

Eurogroup president Jeroen Dijsellbloem warned on Friday that Greece needs to «speed up its efforts» in three key areas of its adjustment program.

The Dutch finance minister said that Athens had to do its utmost to avoid a financing gap in its program, to complete the recapitalization of Greek banks as quickly as possible and to complete the prior actions required for the release of the March sub-tranche.

Dijsellbloem said at a Eurogroup meeting in Dublin that only when the troika has completed a satisfactory review, the Euro Working Group will meet to approve the disbursal of the next tranche.

The head of the European Stability Mechanism, Klaus Regling, said that Greece is due to receive 2.8 billion euros from its March tranche and another 7.2 billion euros for the recapitalization program.