EWG approves disbursement of €7.5bn tranche to Greece

The Euro Working Group convened on Thursday afternoon in Helsinki and gave the green light, as expected, the disbursement of the 7.5-billion-euro tranche to Greece by the 20^th of June.

Before the payment is made though, approval will be sought from national parliaments of Eurozone members (where necessary), followed by a Eurogroup on the 16^th of June. The European Stability Mechanism’s board of directors will then meet to approve the disbursement.

According to reports, in order to collect the next 2.8 billion euros, the government will have to transfer 5% shares of OTE to privatization fund TAIPED and introduce legislation for the legal protection of TAIPED and ‘super fund’ officers.