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Posted on: July 25th, 2013 by Dimitris Ioannou No Comments

Eurogroup releases tranche to Greece on conditions

Eurogroup

photo: EU Council

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Eurogroup President Jeroen Dijsselbloem, in a statement on Greece said: “The euro area Member States have been informed today by the Troika institutions that Greece has satisfactorily implemented the prior actions required for the release of the next disbursement under the financial assistance programme, except for one action whose adoption by the Greek Parliament needs to be completed by Thursday, 25 July.

These prior actions included important steps in the areas of fiscal policy, tax reform, revenue administration, public administration reform, privatisation and financial sector restructuring.

Subject to confirmation of compliance with the last outstanding prior action, national procedures may thereafter be finalised and are expected to be completed by 29 July.

Once this process has been satisfactorily concluded, the EFSF will be authorised to release the first sub-tranche of the next installment, amounting to EUR 2.5 billion, according to the programme.”

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