EWG approves near completion of review milestones

Thursday’s Euro Working Group meeting affirmed the implementation of the vast majority of prior actions concerning Greece’s third bailout review, according to a eurozone source.

The senior officials of the eurozone’s finance ministries were informed that there are still three milestones that remain pending from a total of 110, but they are not in the government’s control.

These milestones are the decision of the Council of State on the development of Elliniko, the efficiency of the online auctions mechanism, and the invitation of interest in the country’s natural gas grid operator.

Consequently the February 19 Eurogroup meeting is expected to authorize the disbursement of the third installment, estimated at 6.7 billion euros, that will later have to be approved by the governing board of the European Stability Mechanism (ESM).

The EWG was also updated on the course of technical talks concerning the so-called French mechanism on the debt, although no any decisions were made as task force discussions are ongoing.