Eurogroup approves 6th tranche release for Greece

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24 October, 2011

Government Vice-president and Finance Minister Evangelos Venizelos attended a Eurogroup meeting on October 21 in Brussels.

According to a statement issued by the Eurogroup on the Greek Economic Adjustment Programme, the eurozone finance ministers "agreed to endorse the disbursement of the next tranche of financial assistance to Greece in the context of the current economic adjustment programme. The disbursement is expected to take place in the first half of November, pending the approval by the Board of the International Monetary Fund."

The Eurogroup decision on the Greek programme and the disbursement of the sixth tranche is a positive step, coming as a result of the voting by the Greek Parliament of a bill that secures the fiscal targets of 2012 and lays the groundwork for the necessary structural changes, Venizelos stated from Brussels.

On October 22, Venizelos also attended an extraordinary Economic and Financial Affairs Council which reviewed preparations for the European Council Meeting on October 23, focusing on measures to restore confidence in the banking sector as part of a comprehensive strategy to tackle the sovereign debt crisis.

Source: GREEK NEWS AGENDA issued by the Secretariat Genera

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