Greek Finance Minister Euclid Tsakalotos is expecting the disbursement of the 2 billion euros tranche and the 10 billion euros for the recapitalization of the banks to be approved by today’s meeting of Euro Working Group.

A while ago the European Stability Mechanism (ESM) approved the disbursement of the 2 billion euros tranche.

ESM managing director Klaus Regling commenting on ESM decision said: “Today’s decision to disburse €2 billion of ESM funds reflects the Greek government’s commitment to the programme as it implemented an extensive list of essential reforms. These include key financial sector reforms which are important to support the ongoing bank recapitalisation process. If programme implementation remains strong, I am confident that the Greek people’s reform efforts will allow them to make visible strides towards a sound recovery.”

Upon his arrival, President of Euro Working Group Jeroen Dijsselbloem stated that current economic crisis could be characterized as an emergency situation that could trigger the clause of economic flexibility but it should be evaluated later.

Finance Minister of Ireland Michael Noonan told reporters that the current Eurogroup meeting is very important for Ireland because they are moving from the corrective part of the Stability Programme to the preventive part.
As for the security measures applied in Brussels after threats of terrorist attacks, Mr. Noonan said he feeled safe.

Finance Minister of Finland Alexander Stubb said upon his arrival that the situation in Europe is difficult as apart from economic crisis there is a refugee crisis, too.