Eurogroup meeting amid optimism that programme review will be concluded

A Eurogroup meeting has been scheduled for Monday amid optimism that the third programme review will be concluded and a green light will be given for the approval of the next loan tranche.

The EuroWorking Group (EWG) came to the conclusion last week that most of the prior actions have been implemented and an in-principle agreement for the conclusion of the third programme review was reached.

Provided that the Eurogroup approves the third programme review, the first sub-tranche is expected to be disbursed by late February.

According to a eurozone official, the next loan tranche will be 6-7 billion euros and will be disbursed in several sub-tranches. The same official said that the funds will cover state arrears and loan obligations. A part of the tranche will also be provided for the cash buffer that Greece will need in the post-memorandum period.

As soon as the third programme review is concluded, staff-level talks on Greek debt relief will begin.