Commission: Creditors will decide on the release of the money before Christmas

Greece is likely to receive the delayed one billion euro bailout installment before Friday.

European Commission spokesperson Mina Andreeva claimed on Monday that creditors will decide on the release of the money before Christmas if everything goes smoothly.

“Greek authorities delivered all the outstanding input to complete the second set of milestones to the institutions for their final assessment. Subject to their positive assessment the ESM board of directors is then expected to convene before Christmas to decided on the disbursement on the sub-tranche of the one billion euro,” Andreeva noted.

The one billion euros are the final tranche of the first installment of a three year 86 billion euro Greek bailout. A review of the program will follow in January. Once that is completed, Greece will have to implement a new set of measures and reforms to secure additional bailout funds.

– See more at: http://greece.greekreporter.com/2015/12/21/one-billion-euro-bailout-tranche-could-be-released-before-christmas/#sthash.01M1gJIi.dpuf