Eurogroup convenes to debate Greek bailout problem review

The Eurogroup is scheduled to convene on Tuesday in order to discuss the Greek bailout program review, following the Greek…

The Eurogroup is scheduled to convene on Tuesday in order to discuss the Greek bailout program review, following the Greek government’s approval of a controversial prior actions omnibus bill on Sunday.

According to reports the European Commission submitted a draft compliance report at Monday’s Euro Working Group, with the final version expected after Tuesday’s Eurogroup.

Should the bailout review conclude successfully, the Greek government is expecting the European Central Bank to lift its waiver on Greek bonds, so that it may accept them as collateral. This decision, which is expected to take place at the next ECB board meeting in early June, will provide cheap funding for Greek banks.

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