Eurogroup sees positive Greek reforms

The Eurogroup discussed the implementation of the reform commitments by Greece based on the fourth enhanced surveillance report

A Eurogroup meeting on Wednesday gave a green light to the transfer of SMP-ANFA income equivalent amounts and the reduction to zero of the step-up interest margin on certain loans to Greece worth 767 million euros in total.

According to sources, the Greek government also managed to secure approval of its request that post-bailout Eurozone profits from Greek bonds are used to boost investment in the country, instead of debt repayment. Details of how this scheme will work will be discussed between Athens and its international creditor institutions in coming months.

Eurogroup president Mario Centeno said Greece was on the Eurogroup agenda “for good reasons” as the reports of the European Commission on the implementation of reforms by the country is “quite positive”.

“All participants at the Eurogroup acknowledged the good course of the economy, the progress, the filling of the gaps and the coverage of the pledges the previous government had left pending, and the positive momentum; the disbursement of the second package of measures for the easing of the Greek debt amounting to 767 million euros was also decided,” Finance Minister Christos Staikouras said.

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