Luxembourg, 06/10/2015 (Agence Europe) - On Monday 5 October, the Eurogroup agreed on the prior actions Greece must apply or cease in October in order to obtain two payments of a total of €3 billion in the framework of the third Greek bailout plan.
“The next list of milestones, prepared by the Euro working group, have been agreed and they will, once they are implemented, hopefully by mid-October, unlock the next disbursement, of two billion euros out of the remaining three billion euros” of a total first tranche of €26 billion, said the President of the Eurogroup, Jeroen Dijsselbloem. “The next set of milestones to unlock the remaining billion euros will have to be agreed later in October”, the Dutch Minister continued.
The Commissioner for Economic and Financial Affairs, Pierre Moscovici, clarified the timetable. Next week, he explained, the first list of prior actions is to be adopted. The second raft of measures will be set in place “in early November at the latest” and will contain “key budgetary and fiscal measures and the measures required for bank recapitalisation”.
This process will pave the way for the first monitoring mission of the third Greek bailout plan, to be carried out by the representatives of the creditors of Athens, which Moscovici hopes will be concluded by the end of November. The conclusion of this first monitoring mission will trigger the recapitalisation process of the Greek banks and the discussion on a reduction of the public debt, Dijsselbloem explained. He went on to refer in passing to the enormous implementation efforts made by the 'Tsipras' government since the agreement was reached in July of this year between Greece and its creditors. (Original version in French by Elodie Lamer)