The Euroworking Group (EWG) is continuing deliberations in Helsinki, Finland, in an effort to iron out the final details on the Greek program, which would mean moving on to the next phase of the Eurogroup approving the release of the 7.5bln Euro tranche to Greece.

Following Wednesday’s set back, when the German parliament blocked the release of the funding to Greece, due to pending prior actions the Greek parliament had not yet completed, including, among other things, the privatisation of the regional airports and the sale of the Hellenikon property, the European institutions are scrambling to come up with a positive recommendation.

European sources say there was a positive climate regarding the completion of the technical talks in Helsinki after the reviews of the revised compatibility report by the European Commission.

Meanwhile, the Greek government is anxious to see the procedure move forward as it wants to lay out its plans for the next day, which involve paying off creditors with the 7.5bln tranche; the return of Greek bonds in the waiver of the ECB, which would see 150-200bln Euros flow into the Greek banking system; and the inclusion of Greece into the ECB’s quantitative easing program.