Green light for billion-euro tranche at March 11 Eurogroup a real possibility, sources say

A green light for the disbursement of a roughly one-billion-euro tranche of returned bond profits to Greece at the March 11 Eurogroup – or failing that the Eurogroup in April – remains a possibility according to a Eurozone source, who spoke with the Athens-Macedonian News Agency (ANA) after a staff-level meeting of Eurozone finance ministry representatives on Friday.

The institutions on Friday briefed the representatives of the Eurozone member-states on pending issues in the implementation of commitments undertaken by Greece during the post-programme period, as listed in the second enhanced surveillance report.

These chiefly concern the system that will succeed the Katseli law for protecting primary residences, on which further developments are expected soon, privatisations in natural gas and the effectiveness on electronic auctions.

According to ANA sources, it is quite possible that progress on these will be made before the end of the current week, allowing the March 11 Eurogroup to approve disbursement of the tranche. Otherwise, the decision will be left for the next Eurogroup on April 5.

Well-informed Eurozone sources, meanwhile, commented that the atmosphere at Friday’s meeting as positive, with the institutions reporting that Greece was making rapid progress and that it was possible for pending issues to be concluded quickly.