Eurogroup: Greek Debt Relief, If Any, Must Meet Three Conditions

Eurogroup: Greek Debt Relief, If Any, Must Meet Three Conditions

The president of Eurogroup, Jeroen Dijsselbloem, shared that a discussion on lowering the Greek debt may begin only if three conditions are met first, which are the completing of the prior actions, achieving a primary surplus, and assessing that debt relief. He also added that the amount should be determined during the troika of Greece's lenders current review of Greece's fiscal adjustment program.
The new Greek Finance Minister Gikas Hardouvelis informed the Eurogroup that the Greek authorities would meet the first six prior actions by the end of June, in order to secure the disbursement of the next loan tranche, worth 1 billion euros.
The managing director of the European Stability Mechanism, Klaus Regling, also reiterated that the 2 billion euros would be disbursed to Greece after the prior actions were completed. He stressed that the European Financial Stability Facility has disbursed 139.9 billion euros to Greece so far, which left 3.8 billion euros outstanding.

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