The way is being paved for Greece to receive part of the 7.2-bln euro installment benchmarked for Greece was put on the table at the meeting of the Euro Working Group (EWG) on Wednesday. After a long discussion members of the group agreed at around midnight (Greek time) to create a formula of technical negotiations between the Athens and Brussels Group. These would take places in “themes”.
It is uncertain whether Greek Fiscal Policy Secretary Nikos Theoharakis, representing Greece at the EWG, presented new Greek proposals aimed at yielding another 1 bln euros for Greece. On the contrary, representatives of the three institutions appeared annoyed concerning the “theoretical” proposals offered by Greece.
Agreements reached on Wednesday
* The Brussels Group will meet on Tuesday or Wednesday after Easter. At this meeting lenders except to be presented with new Greek proposals to replace but include the 5th Review that was to have taken place with the old Troika.
* Fiscal teams will attempt an express evaluation of the Greek proposals to be finalized by the end of next week.
* The new EWG is set to meet at April 20-21.
* The Eurogroup meeting on April 24 is to focus on Greece.
The EWG is meeting again on Thursday, but the focus this time will be the preparation for the Eurogroup meeting on April 24.
Greece is due to make its 459-mln euro loan payment to the International Monetary Fund (IMF) on Thursday as scheduled, following days of uncertainty. Additional interest rates worth 400-mln euros and the renewal of a 2.4-bln euro payment in six- and three-month treasury bonds due to mature on April 14 and 17 were also assured said the source. The source said that it would be “impossible for Greece not to serve its debts this month.”
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