Greece closer to rescue loan tranche disbursement

A Euro Working Group meeting was held Wednesday to examine if Greece has taken all necessary prior actions in order for the country to receive the next tranche of the EU-ECB-IMF sponsored bailout loan.

Twenty one out of twenty two of the required actions have been voted into law by the Greek parliament so far and the final one – over the civil servant mobility scheme being applied to Education ministry employees – is set to be approved Thursday.

Education minister C. Arvanitopoulos is set to bring a relevant draft to Parliament determining how many of the ministry’s employees will join a “reserve pool” of public sector employees set to be transferred to other posts or be laid off within eight months.

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(Photo of Athens: Clive Leviev-Sawyer)