Athens confident euro working group will green-light funds disbursement

Euro zone deputy finance ministers – the so-called Euro Working Group – will convene in Helsinki on June 9 to assess whether or not Athens has carried out all the prior actions as agreed. Ministers are expected to give the go-ahead for the disbursement of the 7.5 billion euro bailout loan tranche, as Greek government sources said Wednesday.

The aim is for the agreements to be signed – including an updated memorandum of understanding and a technical memorandum of understanding – together with the positive compliance report which has already been compiled by creditors.

Subsequently, these texts will be submitted in seven member-state parliaments for approval: Finland, Austria, Germany, the Netherlands, Slovakia, Slovenia and Estonia. Once they ratify the deal, Greece will await the approval of the European Stability Mechanism, which is expected to convene on June 16 – the date of a scheduled Eurogroup meeting.

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(Photo: Theophilos Papadopoulos/