Greek Finance Minister Euclid Tsakalotos is traveling to Brussels, on Monday, to attend the Eurogroup, which is expected to sign the conclusion of the third review and give the green light for the tranche of 6.7 billion euros. Last Friday, the EuroWorking Group ascertained that the Greek government has implemented most of the prerequisites that had been agreed, and thus, it decided over the conclusion in principle of the third review.

The new Eurogroup President, i.e. Portuguese Finance Minister Mário Centeno, is also taking up his duties on Monday. According to a Eurozone official, the next tranche will be used to repay liabilities and fulfill loan commitments, while part of it will be used to create a cash reserve that Greece will need for the period after the Memorandum.

 

Translation: Eleni Gogou