The EuroWorking Group (EWG) decided in its teleconference to give the Greek government 24 hours to implement the prior actions in order to release the 7.5bln Euro tranche, Monday. The conference lasted 3 hours and examined the European Commission’s review on the progress of the Greek program, which was positivem in principle, but there were still pending matters before the release of the installment could be considered final.

European sources say that the process is not complete, but add that the technical groups will iron out any details in Athens on Tuesday, expressing hope that a final agreement would be reached. The matters still open include the privatisation of the Greek airport, OTE Group’s deal with Deutsche Telekom, as well as the Civil Aviation working plan, a necessary step for the completion of the privatisation of the regional airports. If these steps are covered within the 24-hour deadline, the European Commission will give the ‘green light’ to EU national parliaments to ratify the agreement, which will in turn lead to the final approval by the ESM for the release of the tranche.