ESM tells gov’t to do its home­work


The Euro­pean Sta­bil­ity Mech­a­nism’s de­ci­sion re­gard­ing the dis­burse­ment of the 7.7-bil­lion-euro tranche to Greece was yes­ter­day post­poned un­til to­mor­row, pro­vided that all prior ac­tions re­quired have been sat­is­fied by then.

The ESM board ap­proved the ad­justed bailout agree­ment in a con­fer­ence call with the par­tic­i­pa­tion of the eu­ro­zone fi­nance min­is­ters, but the next call that was sched­uled to take place with rep­re­sen­ta­tives of fi­nance min­istries to rat­ify the pay­ment of the tranche was put off as the Greek gov­ern­ment still had some home­work to do.

The main mile­stones re­main­ing are the pend­ing le­gal cases con­cern­ing the for­mer head of the Hel­lenic Sta­tis­ti­cal Author­ity, An­dreas Ge­or­giou, the cases of the state sell-off fund ex­perts, and the four prior ac­tions the In­ter­na­tional Mon­e­tary Fund is in­sist­ing on be­fore it agrees to par­tic­i­pate in the new pro­gram – such as Sunday open­ing rules for stores and open­ing up the en­gi­neer­ing pro­fes­sion, among oth­ers.

In Athens yes­ter­day Fi­nance Min­is­ter Eu­clid Tsakalo­tos ex­pressed cer­tainty that ev­ery­thing would be in place by to­mor­row: “I am 100 per­cent cer­tain we will man­age to agree by Friday for the tranche to be dis­bursed,” he stated.

Fi­nance Min­is­ter Eu­clid Tsakalo­tos ex­pressed cer­tainty ev­ery­thing would be in place by to­mor­row.

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