After a week of under-the-radar negotiations in the Greek capital Athens, the Euro Working Group (EWG) of eurozone finance ministry officials charged with looking into Greece’s progress as part of the third review of its third bailout package approved Athens’ fulfillment of the prior actions associated with the third review and opened the door for the disbursement of a €5.7-billion subtranche.
Eurogroup President Mário Centeno “The ESM Board of Governors is expected to approve the disbursement of the fourth instalment of the program following the completion of the national parliamentary procedures,” adding, “This will pave the way for the release of the first subtranche in the second half of March.”
“We have now entered the final round of the Greek program. The fourth and final review is starting and with it the technical preparation for possible new measures for the easing of the debt,” added Centeno in reference to the ongoing fourth and final review.
“Greece has started its return to market financing and the Greek government is working on a long-term growth strategy, which will be critical to define the post-programme framework,” Centeno said, before adding, “I am confident this will help Greece return to an equal footing with its European partners and leave the crisis days behind.”