After being approved at the Euro Working Group on Friday, the Eurogroup also approved the 1-billion-euro loan installment to Greece on Monday, with Eurogroup President Jeroen Dijsselbloem urging the Greek government to fulfill its commitments by early August in order to collect the next installment.
Mr. Dijsselbloem also confirmed that the troika’s technical teams will visit Athens within the week in order to examine the progress of the Greek program and confirmed that the fifth and final review will take place after all of the milestones of the forth review have been completed. On is way out of the session, the Eurogroup president commented that there was still work to do and stressed that member states can buy extra time only if they implement reforms, instead of just making promises.
Government sources stressed that Greece’s next goal is to complete the next six prior actions by the end of July, in order to collect the next billion-euro loan installment in August. Ultimately, the government wants to complete the fifth and final review by October, in order to begin discussions regarding the sustainability of the Greek debt.
