The latest meeting between Greek officials and Eurozone finance ministers ended in deadlock yesterday (Monday) regarding the latest release of bailout funds.
Greek finance minister Euclid Tsakalotos left the Eurogroup meeting without its approval for the release of some €5.7bn. According to the Kathimerini, Greece must complete two pending prior actions that form part of over 100 reforms that the two sides had agreed on in order to complete the bailout program, which is due to end in August. However, officials expressed optimism that Greece is in general progressing in implementing the reforms.
Eurogroup’s Mario Centeno told Reuters: “Of all the 110 prior actions, only two are still outstanding which are outside the control of the government. I am confident they can be cleared soon.”
European Monetary Affairs Commissioner Pierre Moscovici also appeared optimistic and emphasised that “very significant progress” has been made in Greece and expressing confidence that the two prior actions will be completed in time for the next Eurogroup.
However, due to no agreement having been made yesterday, it is unlikely that the latest installment will be released before the middle of next month.