The European Commission expressed its satisfaction that negotiations between the institutions and the Greek government are moving forward at a satisfactory pace. Speaking to media Tuesday EC spokesperson Mina Andreeva said if all sides stick to their commitments negotiations will wrap up on time. “We are moving in the right direction and intensive works are in progress”, said Andreeva, underling that cooperation with Greek authorities is constructive. Within this framework of negotiations Andreeva said the goal of releasing the first tranche of the ESM bailout plan to Greece before August 20 was optimistic but realistic at the same time.