Commission report provides 'green light' for post-bailout evaluation, 975-mln€ tranche to Athens

Wednesday, 03 April 2019 16:21
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By N. Bellos

The EU Commission’s updated report, which will be tabled at the Eurogroup meeting on Friday in Bucharest, provides the “green light” for approving the second post-bailout evaluation of Greece, and essentially paves the way for the disbursement of 974 million euros to the country.

According to the Commission, Athens has implemented the necessary actions requested by European creditors at the end of February 2019, such consolidating the autonomy of the independent public revenues authority; updating measures to reduce NPLs and credit sector stability in Greece; unveiling a new framework for protection of primary residences from creditors; executive staffing for the Hellenic Financial Stability Fund (HFSF); issuing another international tender for PPC’s lignite-fired units; a restructuring plan for the state-run natgas utility; clearing the way for a privatization of the Egnatia motorway; and various reforms in the country’s public sector.

The 975 million euros is profits from Greek bonds held by the ECB and other Eurozone central banks as collateral, part of 2017 debt relief allocated by European creditors.

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