Eurogroup: Next loan tranche by end of March, debt talks in progress

Centeno says that the last Eurogroup meeting recognised the progress that has been made by Greece

Tuesday, March 13, 2018
Eurogroup: Next loan tranche by end of March, debt talks in progress
Eurogroup President Mario Centeno has said that Greece’s next loan tranche is expected to be disbursed in the second half of March.

Centeno said that the last Eurogroup meeting recognised the progress that has been made by Greece.

Noting that Greece has entered the final stretch towards completion of its fiscal adjustment programme, Centeno said that negotiations regarding debt relief are already in progress.

Centeno underlined, however, that the precondition for a debt relief package is for Athens to successfully implement 88 demanding measures, the enforcement of which will be evaluated in the fourth and last bailout evaluation.

Economic and Financial Affairs Commissioner Pierre Moscovici noted that only 100 days remain before the 21 June Eurogroup meeting, where there should be approval of a package agreement for Greece. He stressed that there is no time to lose.

Moscovici noted that the fiscal oversight scheme that will be implemented after Greece completes its programme should in no way resemble the previous bailout programmes.

With Athens gearing up to present its own, comprehensive growth plan, Moscovici said that Greek ownership of the programme is key, as it represents an important test of credibility.