The Eurogroup came to an agreement on the allocation of Greece new credit tranche

© AP Photo / Petros Giannakouris,Greece. Archival photoThe Eurogroup came to an agreement on the allocation of Greece new credit tranche© AP Photo / Petros Giannakouris,

The Council of Finance Ministers of the Eurozone countries (Eurogroup) at a meeting on Monday did not come to the solution to give Greece a new tranche of the loan, said the head of the Eurogroup Jeroen Dijsselbloem at the press conference.

«We have made a giant process (implementation) of the package (required of Greece under the financial assistance programme — ed.). We really appreciate the work done in Greece to implement the agreed reforms and measures. The Greek authorities are committed to continue this work as quickly as possible so that we could work on the release of the next tranche,» — he said.

Dijsselbloem reiterated that the Eurogroup is always said to be completed when work on the second assessment of the implementation by Greece of the requirements for the implementation of reforms in the framework of the bailout, it will be possible to begin in-depth discussion of the sustainability of public debt.

«We are close to official completion of the second assessment», — he added.

«Today we had the first discussion on the issue of debt sustainability. But at the moment we have not reached total agreement on this part of our discussion. In the coming weeks we will continue to work on it and try to reach agreement in the next Eurogroup, which will be in a few weeks,» — said the head of the Eurogroup.

Greece needs a new tranche in the coming weeks to pay in July the debts to the ECB and other creditors amounting to about 7.5 billion euros. The source did not exclude that the decision on the transfer of the tranche may come in June.

Source