Eurogroup To Approve First 1 Bln Euro Sub-tranche Disbursement Of Greek Aid

The Eurogroup on Monday is expected to approve the disbursement of the first 1-billion-euro sub-tranche after the country fulfilled the first six prior actions agreed with its international lenders.

EU partners are expected to ask Finance Minister Gikas Hardouvelis for a briefing on the implementation of the remaining six prior actions as well as on the court decisions annulling government legislation to cut wages of specific worker groups.

The heads of the troika (IMF’s Poul Thomsen, ECB’s Klaus Masuch and EU Commission’s Declan Costello who replaced Matthias Mors) are coming back to Athens on Wednesday.

Thomsen and Costello are expected to speak at an Economist conference on July 9-10. Hardouvelis and the head of the Managing Director of the European Stability Mechanism Klaus Regling are expected to speak at the same conference. Hardouvelis' first meeting in Athens with Greece's lenders will take place at the Finance ministry on July 10.