Greece to receive 7.5bln Euros: Euroworking Group gives OK

Approval expected at Eurogroup meeting next week

The EWG gave a positive report on the Greek review during its meeting in Helsinki, Finland, Thursday, opening the way for the release of the 7.5bln Euro tranche. The report will be sent to the member-states for ratification so that the cash installment can be released to Greece. The technical advisory staff to the Eurozone Finance Ministers met for 2.5 hours (7pm-9.30) and agreed that Greece had fulfilled all its obligations, therefore becoming eligible to receive the money The decision is expected to be approved by the Eurogroup next week, while the final approval will be sealed by the ESM on June 16. Greece was represented at the EWG meeting by Alternate Finance Minister George Chouliarakis.