Brussels, 05/06/2014 (Agence Europe) - The Greek cabinet reshuffle and the end of the parliamentary season may mean that Greece misses the deadline for introducing the milestones attached as strings to payment of aid of €1 billion.
Greek newspaper Kathimerini says Greece has to be ready by 13 June, when the EU Council of Ministers' Euro Working Group is due to give the go-ahead to payment of the €1 billion of aid as long as six milestones have been achieved. The Greek parliament's summer sitting will resume on 17 June and one of the milestones laid down for the end of May has not yet been reached (reducing the mark-ups and profit margins that pharmacies are allowed).
A Greek ministerial source told this newsletter: “There has been progress on all six May milestones, but I think it is unlikely that they will be done before the next EWG meeting. However, I believe that agreement on them will be reached very soon”. A different milestone to be achieved by the end of June (a precondition for payment of another €1 billion of aid) is the passing of a law to split up electricity utility Public Power Company and the creation of a body known as “Small PCC” which would then be privatised. This, too, is a delicate issue. In August, Greece will need to pay debt instalments of €7 billion. (EL)