Eurogroup gives Greece another week to agree measures, keeps tranche and recap funds on hold

EconomyProgramme Tags: Eurogroup
Photo by EU Council via Flickr https://flic.kr/p/gDK7GV
Photo by EU Council via Flickr https://flic.kr/p/gDK7GV

As expected, the Eurogroup held on Monday took stock of the current state of play regarding the implementation of the Greek programme but it did not reach any decision on the disbursement of the next sub-tranche of 2 billion euros.

Such a development will unlock the 2-billion-euro sub-tranche as well as the transfer to the Hellenic Financial Stability Fund (HFSF) of the 10 billion for bank recapitalisation that were released to an ESM segregated account in August.

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