The tranche represents the return of the profits held by the European Central Bank and national central banks in the EU from Greek bonds (ANFAs and SMPs), as well as the suspension of the interest rate increase of the second loan agreement, as part of the medium-term debt relief measures. Once the disbursement by the Eurogroup has been approved, national approval procedures will be launched, including votes in some parliaments, such as the German one.
It is noted that, according to the same sources of the finance ministry, the climate during the meeting was very positive regarding Greece and the progress of reforms.
Eurogroup president Mario Centeno said the decision was reached based on the institutions’ positive evaluation of Greece’s agreed commitments – including the 2019 State Budget and the completion of “important structural reforms” that included the legislation on primary residence protection and household insolvency. “This law will be temporary and be applied until the end of 2019,” Centeno said, referring to Greek Finance Minister Euclid Tsakalotos commitments on this score, adding that the European Commission will monitor the fiscal and financial impact of the measure.
Centeno said that the approval of the disbursement is another “positive sign” for investors, especially as regards the “ownership” of the reforms, something that has already been reflected in the markets’ reaction.
Read More.. Source Greek News Online