Greek government eager to secure bailout funds before Brexit referendum

Written by on June 15, 2016 in Europe - Comments Off on Greek government eager to secure bailout funds before Brexit referendum
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The Greek government is keen to make sure the European Stability Mechanism and subsequent Eurogroup meeting give the necessary final approval for the disbursement of bailout funds to Athens.

European sources say that a large chunk of the 7.5 billion euro sub-tranche could arrive at the end of this week – about 1.8 billion euro will be handed to Greece in monthly instalments ranging between 500 million euro and 800 million euro, to be used to pay State arrears.

Then, on 22 June, a day before the UK referendum, the European Central Bank will discuss reinstating the waiver for Greek bonds. According to reports, a positive decision is expected this time.

Both Commission president Jean Claude Juncker (on 21 June) and troika inspectors (22-23 June) are expected in Athens next week.

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