Eurozone Official Optimistic of Solution for Greece at June 15 Eurogroup

Eurozone Official Optimistic of Solution for Greece at June 15 Eurogroup

The Eurogroup on Thursday will "most likely" end with a good outcome for Greece, predicted a senior Eurozone official who briefed the press here on Tuesday.
"All sides want to conclude the second review now," the official noted, saying that the agreement will include a positive report on the implementation of the prior actions by all the institutions, including the International Monetary Fund (IMF). It will also include a positive debt sustainability analysis produced by the European institutions and - at very least  - the "approval in principle" of the IMF.
All these combined were expected to lead to a "green light" to the European Stability Mechanism (ESM) to disburse the next installment of loans to Greece in time for the country to meet repayments, the official said.
On the size of the installment that would be disbursed, he declined to give an exact figure but suggested it would range between 7-11 billion euros.
Regarding debt sustainability, the official repeated that the discussion will be based on the Eurogroup agreement of May 2016, which includes the short-term measures for the debt already implemented and the medium-term measures that will go into effect at the end of the programme in 2018, as well as a reference to possible medium-term measures that may be implemented if they are needed.

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