Euro zone ministers await experts' view on Greek reforms to disburse new loans

Record ID: 980295

  • Title: Euro zone ministers await experts' view on Greek reforms to disburse new loans
  • Date: 22nd January 2018
  • Summary: BRUSSELS, BELGIUM (JANUARY 22, 2018) (REUTERS) EXTERIOR OF EUROPEAN COUNCIL BUILDING IN BRUSSELS PEOPLE WALKING BY EUROPEAN COUNCIL BUILDING
  • Embargoed: 5th February 2018 14:19
  • Keywords: Crisis German Finance Minister Peter Altmaier Greece Eurogroup Debt Germany Moscovici EU Commission Dombrovskis centeno euro zone
  • Location: BRUSSELS, BELGIUM
  • City: BRUSSELS, BELGIUM
  • Country: Belgium
  • Topics: European Union,Government/Politics
  • Reuters ID: LVA0017Z72RT3
  • Aspect Ratio: 16:9
  • Story Text: Euro zone finance ministers will decide on Monday (January 22) whether Greece is eligible for the next tranche of bailout loans after listening to an expert review of reforms recently adopted by Athens, top euro zone officials said.
    Speaking before the meeting, European Economics Commissioner Pierre Moscovici said he believed ministers would look favourably on Greek reforms and that it could mean the 'end of the Greek Crisis.'
    Commission Vice President Valdis Dombrovskis told reporters before finance ministers met that Greece was on track.
    To pay out 6.7 billion euros ($8.2 billion) of new loans, probably in more than one tranche, international lenders have asked Greece first to adopt 110 "prior actions".
    German Finance Minister Peter Altmaier said that Greece had made progress in implementing the commitments on reforms and reiterated the German position that it was in the interest of Greek to implement all the reforms agreed with its creditors.
    Senior euro zone officials preparing the ministers' meeting, last week said Athens completed 92 of the requested actions, which meant the ministers could agree "in principle" on Monday to disburse once the remaining actions are completed.
    The new president of the Eurogroup, Mario Centeno, said the ministers would have to listen to the ESM (European Stability Mechanism) on the issue of disbursement consecutive to the end of the review.
    The final review of Greece's performance under the bailout is expected in June, with disbursements of the last loans in July so that Athens has cash when it becomes fully dependent on market financing in August.
    Monday's meeting is the first one to be chaired by Portuguese Finance Minister Mario Centeno, who met with Council President Donald Tusk and EU Commission President Jean-Claude Juncker before the talks.
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