Loan Tranches to Greece Will Last until 2nd Review Starts at End-October, Eurozone Sources Say
Thursday, 26 May 2016
The 10.3 billion euro tranche that the Eurogroup decided to disburse to Greece will fully meet the country's financing needs until the end of October, when the second review of the Greek programme is set to start, Eurozone officials said on Wednesday.
Describing the events behind the scenes at Tuesday's Eurogroup, the sources said that the IMF and Europeans had reached a compromise in spite of their different initial positions, while confirming that the IMF will participate. According to one EU official, this was not so much a "power play" but more that all sides moved from their initial position, with the IMF fully understanding that the Eurozone operates in a different way from the fund.
ANA-MPA