Greece’s lenders can only complete the review after Greek Parliament legislations

Greece may get the 2 bln euro tranche after an agreement at a second EWG on Thursday

Greece’s creditors from the European Commission, European Central Bank, European Stability Mechanism and International Monetary Fund say they are waiting for the Greek Parliament to legislate necessary reforms so that they can complete their review. They expressed satisfaction with progress in talks and gave confirmation that there was an agreement on the role of the Hellenic Financial Stability Fund (HFSF).

Greek authorities and creditors have come closer to aligning their position on non-performing loans, and it is hoped that an agreement will be reached very soon.

Tuesday’s meeting of the Euro Working Group (EWG) is expected to give a positive evaluation of progress. Sources, however, say that the institutions can only complete their review after the legislation of the reforms, which the creditors expect within the week. They did not rule out a second EWG meeting, possibly next Thursday, in order to give the go-ahead for disbursing the sub-tranche of 2 billion euros linked to the first package of prior actions and the transfer of 10 billion euros to the HFSF for the recapitalisation of Greece’s banks